181.13 ALLOCATION OF FUNDS.

   The funds collected under the provisions of this chapter shall be deposited in the respective Funds and used for the following purposes, to wit:

   (a)    Such part thereof as shall be necessary to defray all cost of collecting the taxes and the cost of administering and enforcing the provisions thereof.

   (b)    A sum equal to the amount of taxes collected per year from the additional one-half percent (½%) in effect from January 1, 2004, shall be used for capital improvements and operating expenses.
(Ord. 06-49AC CMS. Passed 6-19-06.)

   (c)    A sum equal to the amount of taxes collected per year from the additional one-fifth of one percent (1/5%) in effect from January 1, 2009 through December 31, 2018 shall be used for capital improvements and general operating expenses, including debt service on obligations issued to finance such activities.
(Ord. 08-36AC CMS. Passed 6-16-08.)

   (d)    A sum equal to the amount of taxes collected per year from the additional one-fifth of one percent (1/5%) in effect from January 1, 2015 through December 31, 2019, shall be used for the purpose of providing funds for operating and capital improvement expenses for the City of Oberlin.
(Ord. 09-03AC CMS. Passed 1-20-09; Ord. 13-31AC CMS. Passed 5-6-13.)

   (e)   A sum equal to the amount of taxes collected per year from the additional three-fifths of one percent (3/5%) in effect from January 1, 2015 through December 31, 2024, shall be used for the purpose of providing funds for operating and capital improvement expenses for the City of Oberlin.
(Ord. 14-02AC CMS. Passed 1-21-14.)

   (f)    The balance of such tax receipts collected shall be allocated to the General Fund of the City.
(Ord. 06-49AC CMS. Passed 6-19-06.)