(A) PURPOSE OF LEVY. To provide funds for the purposes of general municipal operations, procurement of fixed assets or permanent improvements, payment of debt charges, the elimination of deficits in City funds, and for all other lawful purposes, there shall be, and is hereby levied a tax on salaries, wages, commissions, and other compensation, and on net profits, as hereinafter provided.
(B) RATE OF TAX. For the purposes specified in Paragraph (A) above, on and after January 1, 1998, an annual tax of one percent (1%) per annum shall be imposed upon the hereinafter specified income.
(C) In addition to the income tax levied pursuant to Paragraph (B), there is hereby levied, to provide funds for the purpose of expenses in the Police Department, a tax upon earnings at the additional rate of one-half of one percent (½%) upon the hereinafter specified income.
(Ord. 15-45. Passed 11-19-15.)