Revenues from any natural gas utility franchise fee hereinafter collected pursuant to the provisions of this subchapter, shall be used for the following purposes:
(A) Fifty percent of all such revenues shall be used for property tax relief; and
(B) The remaining 50% of such revenues shall be used for one or more of the following purposes:
(1) To provide revenue to maintain and upgrade aging infrastructure;
(2) To provide revenue for street and sidewalk maintenance and repair; and
(3) To provide revenue for city facility maintenance repair, including parks, trails, buildings and underground infrastructure.
(Prior Code, § 1-12-1) (Ord. 726, passed 7-18-2011)