(A) To provide funds for the purpose of general municipal operations, maintenance, new equipment, extension and enlargement of municipal services and facilities and permanent improvements of the city and the discharge of principal, and the payment of interest thereon, of obligations for permanent improvements both before and after the date of this chapter, there is levied a tax on salaries, wages, commissions and other compensation, and on net profits as hereinafter provided. ('68 Code § 300.2; amend. Ord. 7-1975, passed 2-5-75)
(B) The allocation of the receipts from the city earnings tax shall be as follows:
(1) All receipts shall be placed first in the general fund;
(2) All operating expenses and refunds associated with the city earnings tax shall be paid from the general fund.
(C) Further allocation shall be made by the city council on an annual basis depending upon the needs of the city, apparent from time to time.
(Ord. 6-1984, passed 1-4-84; Am. Ord. 65-1990, passed 10-3-90; Am. Ord. 38-1993, passed 5-19-93; Am. Ord. 48-2003, passed 12-17-2003)