(A) To provide funds for the acquisition, construction, renovation, equipping, operation, repair, and maintenance of Municipal recreational facilities of the Municipality, there be and hereby is levied, in addition to any other income tax imposed, a tax on income at the rate of .2% per annum for the period beginning July 1, 1988 and ending June 30, 1993, and thereafter at the rate of .1% per annum for a continuing period of time, upon Municipal Taxable Income.
(B) The funds collected under the provisions of this section shall be deposited in the Park and Recreation Fund and said funds shall be disbursed in the following manner, to wit:
(1) All of the gross available income tax receipts received annually which are attributable to the additional income tax levied pursuant to subsection (a) hereof shall be set aside and used for the acquisition, construction, renovation, equipping, operation, repair, and maintenance of municipal recreational facilities of the Municipality including, but not limited to, the payment of any architectural, engineering, legal, or other professional services related to the acquisition, construction, renovation, equipping, or repair of any such Municipal recreational facilities.
(2) All expenses and costs of collecting the income taxes and the costs of administering and enforcing the provisions thereof shall be charged to the General Fund.
(C) This is a continuation of the tax rate in effect July 1, 1998 under Section 181.031 of the Codified Ordinances of Montpelier, Ohio.
(Ord. 2193. Passed 11-23-15.)