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Such tax shall be levied, collected and paid with respect to the salaries, wages, commissions and other compensation, and with respect to the net profits of businesses, professions or other activities earned on and after January 1, 2011.
One percent (1%) of the tax imposed by this chapter shall be allocated to provide funds for the purposes of general operations, including maintenance, new equipment, extension and enlargement of municipal services and facilities and capital improvements, and the remaining one percent (1%) so imposed shall be allocated solely for capital improvements within the Village including the improvement of streets by opening, extending, widening, grading, draining, curbing, paving, relocating, resurfacing and otherwise improving, the acquisition and construction of traffic control devices and traffic control signals for various streets, the construction, rehabilitation and improvement of bridges, the construction and improvement of storm sewer and storm drainage facilities, the construction and improvement of sanitary sewage collection and treatment facilities, the construction and improvement of buildings housing governmental services and functions and the acquisition of real estate and interests in real estate in connection therewith, maintenance and operation of sewage plants, fire, street and police equipment, construction, repair and maintenance of sidewalks and lighting and further including debt service on bonds and notes issued to pay costs thereof. (Ord. 3625. Passed 2-15-10.)