(A) Pursuant to state law, a sales tax at the rate of 0.5% is hereby imposed upon all sellers for the privilege of engaging in the business of selling tangible personal property or rendering taxable services at retail to the extent and in the manner provided in RSMo. §§ 144.010 through 144.527, and the rules and regulations of the Director of Revenue issued pursuant thereto. The amount reported and returned to the Director of Revenue by the seller shall be computed on the basis of the combined rate of the tax imposed by RSMo. §§ 144.010 through 144.527, and the tax imposed by this section, plus any amounts imposed under other provisions of law.
(B) All revenues received by the city from the sales tax herein imposed under the provisions of state law shall be deposited by the City Treasurer, or other authorized city officer, in a special trust fund and shall be used solely for the purpose of retiring debt under previously authorized bonded indebtedness of the city or for capital improvements as required and authorized by state law.
(Ord. 90-071, passed 8-27-1990)