(EDITOR'S NOTE: Ordinance 31-70, passed May 12, 1970, provided funds for the purposes of debt retirement, general municipal operations, maintenance, new equipment, extension and enlargement of Municipal services including the sum of forty-five thousand dollars ($45,000) per annum to apply to the construction of a secondary sewer treatment plant; thirty-five thousand dollars ($35,000) per annum for refuse collection and fifteen thousand dollars ($15,000) for parks and recreation and other capital improvements.)
The funds collected under the provisions of this chapter shall be applied for the following purposes:
(a) Such part thereof as shall be necessary to defray all costs of collecting the taxes levied by this chapter and the cost of administering and enforcing the provisions thereof;
(b) Except as otherwise provided in this subsection, the sum of thirty thousand dollars ($30,000) from the collections in each year shall be used for the purpose of meeting principal and interest charges on such indebtedness of the City which are secured by general obligation bonds of the City, or which are payable by special assessment against all taxable real estate within the corporate limits of the City at the time such assessment was made, in such proportions or amount as Council may from time to time direct. However, if the aggregate of such indebtedness which can be paid in any year is less than thirty thousand dollars ($30,000) the excess over such aggregate may be transferred to the General Fund.
(c) The sum of forty thousand dollars ($40,000) per year, or such part thereof as may be appropriated by Council, into special funds which are hereby established for the following purposes
(1) Purchase and maintenance of new and additional equipment for the Department of Public Service-Safety;
(2) Extension, enlargement or improvement of Municipal services and facilities;
(3) Street improvement and repair;
(4) Construction, remodeling or enlargement of public buildings;
(5) Recreation program; and
(6) Additional bond or note retirement.
(d) The balance of the funds collected each year under the provisions of this chapter shall be paid to the General Fund for general operating expenses.
(Ord. 104-2015. Passed 11-17-15.)