(A) Created. A fund shall be created known as the “Capital Sales Tax Fund.”
(B) Purpose. Funding from the Capital Sales Tax Fund shall be from the 0.5% sales tax which is being received by the city. The Fund shall be used for the expenditure of public infrastructure as defined in ILCS Ch. 65, Act 5, § 8-11-1.2, as now set forth or hereafter amended.
(C) Definition. For the purpose of this section, the following definition shall apply unless the context clearly indicates or requires a different meaning.
PUBLIC INFRASTRUCTURE. At the time of signing Ord. 2979, the term is defined by statute to mean municipal roads and streets, access roads, bridges, and sidewalks, waste disposal systems, and water and sewer line extensions, water distribution and purification facilities, storm water drainage and retention facilities, and sewage treatment facilities.
(ILCS Ch. 65, Act 5, § 8-11-1.2) (1983 Code, § 20-3) (Ord. 2979, passed 6-6-2002)