The funds collected under the provisions of this chapter shall be deposited in the Income Tax Receipts Funds and shall be used, disbursed and transferred as follows:
(a) For the period January 1, 2008 through December 21, 2012, such part of those funds as shall bear the same ratio as one and one-half tenth of one percent (.15%) bears to the total rate of tax imposed by this chapter, as amended, shall be used for the purposes stated in Section 181.04.
(b) For the period beginning July 1, 2005, and continuing thereafter, such part of those funds as shall bear the same ratio to the total tax collected as one and one- half tenth of one percent (.15%) bears to the total rate of tax imposed by this chapter shall be used for the purpose stated in Section 181.043.
(c) For the period beginning July 1, 2005, and continuing thereafter, such part of those funds as shall bear the same ratio as four and one-half tenths of one percent (.45%) bears to the total rate of tax imposed by this chapter shall be used for the purpose stated in Section 181.041.
(d) For the period beginning January 1, 2005, and continuing thereafter, the balance of those funds shall be used for the following purposes and in the respective percentages:
General Fund 96% Parks Bond Retirement Fund 1% Cemetery Fund 1% Capital Improvement Fund 2% |
(Ord. 32-07. Passed 5-21-07.)