(a) To provide funds for the purpose of general municipal operations, maintenance, new equipment, extension, enlargement and improvement of municipal services and facilities and capital improvements of the City, including the payment of principal of and interest on bonds and notes issued to finance such capital improvements, there shall be and is hereby levied a tax upon taxable income set forth in Section 181.03 at the rate of one and two-tenths percent (1.2%).
(b) In addition to the tax levied by the first paragraph of this section, commencing January 1, 1987, there shall be and is hereby levied a tax upon taxable income set forth in Section 181.03 at the rate of five-tenths of one percent (0.5 %) for the purposes of street construction, reconstruction, resurfacing, maintenance and repair, providing capital improvements, and providing general municipal operations, maintenance, new equipment, extension, enlargement and improvement of municipal services and facilities of the City.
(Ord. 147(04-05). Passed 2-17-05.)