EDITOR’S NOTE: This section was approved by the voters on May 4, 1993.
Such tax shall be levied, collected and paid with respect to the income, salaries, wages, commissions and other compensation earned and/or received and with respect to the net profits of businesses, professions or other activities earned, at the rate of two percent (2%) per annum. One-fourth of the proceeds thereof shall be used in such respective amounts as Council shall from time to time determine, for paying costs of acquisition and construction of additions and improvements to the City's water and wastewater utilities and for payment of debt service charges on obligations of the City incurred for such purpose.
(Ord. 09-10. Passed 4-6-09.)