(A) The first one percent (1%) of the one and three-quarters percent (1.75%) of the tax funds collected under the provisions of this Chapter 181
shall be deposited in the General Fund and such funds collected hereunder shall be disbursed in the following order, to-wit:
(1) Such part thereof as shall be necessary to defray all costs of collecting the taxes and the cost of administering and enforcing the provisions thereof.
(2) Not more than sixty percent (60%) of the net available income tax receipts received annually may be used to defray operating expenses of the Municipality.
(3) At least forty percent (40%) of the net available income tax receipts received annually shall be set aside and used for capital improvements for the Municipality including, but not limited to, development and construction of storm sewers and street improvements; for public buildings, parks and playgrounds; and for equipment necessary for the police, fire, street, traffic and safety departments.
(B) The next one-half percent (.5%) of the one and three-quarters percent (1.75%) of the tax funds collected under the provisions of this Chapter 181
shall be deposited and earmarked for police, fire, and ambulance service purposes, with the disbursements to be in the following percentages:
(1) Police: 50%
(2) Fire: 25%
(3) Ambulance: 25%
(C) The final one-quarter percent (.25%) of the one and three-quarters percent (1.75%) of the tax funds collected under the provisions of this Chapter 181
shall be deposited and earmarked for capital improvements for the Municipality including, but not limited to, development and construction of storm sewers and street improvements; for public buildings, parks and playgrounds; and for equipment necessary for the police, fire, street, traffic and safety departments.
(Ord. 2015-13. Passed 11-9-15.)