(A) The funds collected under the provisions of this chapter shall be deposited in the Income Tax Fund #805 and said funds shall be disbursed at the end of each month in the following manner, to wit: for the period of the month ending in which maximum debt service requirements for the FY2020 final debt service payment for the 2012 G/O Bonds (a total monetary accumulation of $378,880 in Fund #310) and subsequent continuing monthly allocations shall be made per the following:
(a) Such part thereof as shall be necessary to defray all costs of collecting the local income tax and the costs associated with administering and enforcing the provisions of the Income Tax Ordinance.
(b) Fifteen percent (15%) of net available income tax collections shall be allocated to the Capital Improvement Fund #405.
(c) Thirteen percent (13%) of net available income tax collections shall be allocated to the Street Construction and Maintenance Fund #205.
(d) One-half percent (0.50%) of net available income tax collections shall be allocated to the Maple Grove Cemetery Fund #225.
(e) Three and one-half percent (3.50%) of net available income tax collections shall be allocated to the Park and Recreation Fund #235.
(f) Sixty-eight percent (68%) of net available income tax collections shall be allocated to the General Fund #100. (Ord. 10-19. Passed 11-4-19.)