A. It is the purpose of the sales tax to provide revenues for the support of the functions of the municipal government of the city.
B. The revenue derived from one cent ($0.01) upon such gross proceeds or gross receipts shall be for the purpose of capital outlay for equipment, professional services for physical and economic development and planning, and capital improvements to public properties and public utilities of the city. Provided, the revenues derived from one percent (1%) of the tax imposed hereby, that is, one cent ($0.01) per dollar of sales subject to taxation, shall be used for the purpose of:
1. Not less than seventy five percent (75%) to finance capital improvements to the municipal water distribution and storage system; and
2. Not more than twenty five percent (25%) to finance acquisition of other municipal equipment or capital improvements, all as provided in resolution 1-3-91 of the city board (city council), with the improvements to be made by the city or by the Harrah public works authority. (Prior Code, Sec. 7-17; amd. Ord. 1987-7, 11-5-1987; Ord. 1991-1, 1-3-1991; Ord. 1995-16, 12-21-1995, eff. 5-1-1996; Ord. 2000-1, 1-6-2000, eff. 7-1-2001)
C. Provided, levy and continued collection of revenues derived from one percent (1%) of the tax imposed hereby, i.e., one cent ($0.01) per dollar of sales subject to taxation, shall be used for capital improvements, including, but not limited to, projects such as expansion/rehabilitation of the Harrah wastewater treatment plant; water and sewer extensions and replacement; city buildings, public safety and administrative facilities/structures and equipment; drainage improvements, including the payment of debt service in connection with obligations issued to finance said capital improvements, and used for operation, maintenance and upgrading of the senior center. (Ord. 2007-4, 8-16-2007, eff. 10-1-2008)
Notes
| 1 | 2. See table in subsection 7-201B of this chapter. |