The funds collected under the provisions of this chapter shall be disbursed in the following manner:
(a) First, such part thereof as shall be necessary to defray all expenses of collecting the tax and of administering and enforcing the provisions of this chapter shall be paid.
(b) The balance remaining after payment of the expenses referred to in subsection (a) hereof shall be deposited into the General Fund at least fifty percent of which shall be used for capital improvements. Any funds not immediately needed shall be invested in interest-bearing investments as permitted by law.
(Ord. 491. Passed 5-6-68.)