The funds collected under the provisions of Chapter 182 shall be deposited in the General Fund and said funds collected for each tax period shall be disbursed in the following order and manner:
(A) Such part thereof as shall be necessary to defray all costs of collecting the taxes and the cost of administering and enforcing the provisions thereof and possible costs of contingent liabilities, (i.e. tax refunds). In no case shall the amount be less than five percent (5%) of the net available income.
(B) The balance of the net available income shall be disbursed as the Council shall deem necessary for the best interest of the Village and funds balances at their discretion, within the existing laws and resolutions, by motion at a regular meeting, with two-thirds of the elected members concurring.
(Ord. 15-24. Passed 11-24-15.)