(A) There is hereby adopted, pursuant to the provisions of the Nebraska Revenue Act of 1967 and the Local Option Revenue Act of 1968, and other pertinent statutes, a sales and use tax of 1% upon the same transactions within the corporate limits of the city, as the same may, from time to time, be extended, on which the State of Nebraska is authorized to impose a tax pursuant to the provisions of the above-referenced statutes of the State of Nebraska, as the same may from time to time be amended.
(B) The administration of the sales and use tax imposed by this section, the making of returns for the ascertainment, assessment, the provision for tax claims and remedies, the laws governing consummation of sales, penalties and collection and for the disposition and distribution of the taxes so imposed and collected shall be as provided by the Nebraska statutes mentioned above.
(C) The sales and use taxes collected pursuant to this section shall be used generally for property tax relief and may be used to reduce property taxes, diminish any increase in property taxes or in any other manner that provides property tax relief.
(`77 Code, § 1-824) (Ord. 1998-O-010, passed 6-1-98)