(a) Pursuant to Section 18-2130 R.R.S. Neb. of the Nebraska Community Development Law, there is hereby levied a general business occupation tax in the amount of one-half percent per dollar for each sales transaction upon the businesses within any designated enhanced employment area established within the City limits for the purpose of paying all or any part of costs and expenses of a redevelopment project approved in a Redevelopment Plan within such enhanced employment area, the collection of which shall commence when the business signs and delivers to the City a participation agreement.
(b) The occupation tax established herein is voluntary and each participating business must execute, prior to collecting the occupation tax established herein, a participation agreement with the City, designating the project for which the occupation tax is being collected and the specific construction or items within the project to which the occupation tax collected will be applied. The Mayor, on behalf of the City, is authorized to sign participation agreements with businesses in the enhanced employment area.
(c) All occupation taxes collected in an enhanced employment area will be forwarded to the Office of the City Clerk at the City Administration Building by the participating business on the twenty-fifth day of each month and will detail the total amount of sales transactions upon which the half cent per dollar calculation of the tax is calculated.
(Ord. 1610. Passed 7-8-08.)