185.0135 ALLOCATION OF ONE PERCENT INCOME TAX (2019).
   (a)   General Fund. Not more than sixty-five percent (65%) of the gross income tax receipts received annually which are attributable to the one percent (1%) income tax levied pursuant to Section 185.012 hereof may be used to defray operating expenses of the Municipality.
   (b)   Tax Capital Improvement Fund. At least thirty-five percent (35%) of the gross available income tax receipts received annually which are attributable to the one percent (1%) income tax levied pursuant to Section 185.012 hereof, shall be set aside and used for capital improvements for the Village, including, but not limited to, development and construction of storm sewers and street improvements; for public buildings and furbishing thereof; for necessary equipment for police, fire, street, water, sewer and traffic and safety departments; and for construction and maintenance of water and sewer systems.
(Ord. 2246. Passed 11-25-19.)
   (c)   Allocations Approved. Any allocations previously made pursuant to the formulae set forth in subsections (a) and (b) are hereby approved and ratified.
   (d)   Collection Costs. 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.
(Ord. 2214. Passed 11-14-16.)