(a) The funds collected under the provisions of this chapter shall be deposited in the below listed Municipal income tax accounts and said funds shall be dispersed in the following order, to wit:
(1) City Income Tax Account "A" shall receive the monies from the one and one-half percent Municipal income tax and cost of administering and enforcing the provisions thereof. Annually the foregoing costs shall be allocated on a proportionate basis to the City Income Tax Accounts B and C. The net available income tax receipts shall be allocated to the General Fund and the Capital Improvement Fund as determined annually by the City Council upon passage of the annual appropriation ordinance.
(2) City Income Tax Account "B" shall receive the monies from the one-half percent Municipal income tax and shall absorb annually its proportionate share of costs as indicated in division (a)(1) of this section. The net available income tax receipt shall be allocated to the proper funds for operating and capital improvement expenses.
(3) City Income Tax Account "C" shall receive the monies from the one-quarter percent Municipal income tax and shall absorb annually its proportionate share of costs indicated in division (a)(1) of this section. The net available income tax receipts shall be allocated to the proper funds to institute treatment of the public water system and/or sewer system.
(b) The net available income tax receipts shall be allocated to the proper funds for police, fire, and other operating and capital expenses of the City.
(Ord. 6562. Passed 12-1-15; Ord. 6620. Passed 11-15-16.)