The funds collected under the provisions of this chapter shall be distributed as follows beginning January 1, 2024:
(a) Such part thereof which is necessary to defray all costs of collecting the taxes and the cost of administering and enforcing the provisions thereof shall be paid into the General Fund.
(b) Twenty percent (20%) of the balance shall be paid into the newly created Special Revenue Fund (2004) to be used for street, storm water, and utility construction, maintenance, repair and improvements.
(c) After the costs of collecting the taxes and administering and enforcing the provisions thereof and the required street, storm water, and utility construction, maintenance, repair and improvements are provided for as set forth in subsections (a) and (b) above, the remaining funds shall be distributed as follows:
(1) Forty percent (40%) of the net available income tax receipts received annually shall be used to defray operating and capital expenses of the Police Department of the City.
(2) Seven percent (7%) of the net available income tax receipts received annually shall be used to defray operating and annual capital expenses of the Fire Department of the City.
(3) One and one-half percent (1-1/2%) of the net available income tax receipts received annually shall be set aside in a growth fund to be used to defray major capital expenses of the Fire Department of the City.
(4) Nine and one-half percent (9.5%) of the net available income tax receipts received annually shall be used to defray operating expenses for the Parks and Recreation Department of the City.
(5) Thirty-one and a half percent (31.5%) of the net available income tax receipts received annually shall be used to defray operating and capital expenses of the General Fund of the City.
(6) Three and one-half percent (3.5%) of the net available income tax receipts received annually shall be used to defray general purpose capital expenses.
(7) Two and three-quarter percent (2.75%) of the net available income tax receipts received annually shall be used to defray Electronic Technology capital replacement expenses.
(8) Two and one quarter percent (2.25%) of the net available income tax receipts received annually shall be used to defray operating and annual capital expenses of the Recreation Center of the City.
(9) One half percent (0.5%) of the net available income tax receipts received annually shall be used to defray operating and capital expenses of the Street M&R Fund of the City.
(10) One and one-half percent (1.5%) of the net available income tax receipts received annually shall be used to defray unanticipated capital expenses.
(d) Exception for Receipts from the Medina-Montville Joint Economic Development District.
(1) After the costs of collecting the taxes and administering and enforcing the provisions thereof and the required street, storm water, and utility construction, maintenance, repair and improvements are provided for as set forth in subsections (a) and (b) above, the remaining funds shall be distributed as follows:
A. Seventy-five percent (75%) of the net available income tax receipts received annually shall be used to defray Economic Development expenses.
B. Twenty-five percent (25%) of the net available income tax receipts received annually shall be distributed in accordance with the distribution laid out in subsection (c) above.
(Ord. 181-23. Passed 11-13-23.)