There shall be and is hereby adopted and levied a sales and use tax within the city for the benefit of the Corporation at a rate of 0.5% of the sales of items at retail and a use tax at the same rate on the use, storage or other consumption within the city of tangible personal property purchased, leased or rented from a retailer during such time as the tax is effective within the city. The tax shall be imposed, computed, administered, collected and remitted in accordance with V.T.C.A. Tax Code, Chapter 321, except as inconsistent with § 4B of the Act. The effective date of the tax adopted and levied by this subchapter and imposed by § 4B of the Act is January 1, 1995, which is the first day the tax may be imposed after complying with the requirements of the Act and the Tax Code.
(Ord. 556, passed 1-10-1995)