A. In addition to the powers otherwise described in Chapter IV of this Charter, and over and above any existing tax, the city shall have the power to impose, levy and collect a transaction privilege and use tax not exceeding one-tenth of one percent (0.1%) for the sole and exclusive purpose of providing additional funding to the Gene Reid Park Zoo as described in this section.
B. There shall be established a Gene Reid Park Zoo improvement fund, which shall consist of all revenues collected from the tax authorized under section 5(A), above, as well as any interest earned on those monies. The director of finance shall deposit all monies in the fund, and all accounts therein as provided by Chapter XXIX of this Charter. The director of finance shall credit monies earned from these investments to the fund.
C. The Gene Reid Park Zoo improvement fund shall be administered as follows:
1. Every dollar in the Gene Reid Park Zoo improvement fund shall be used for capital improvements, operations, and maintenance at the Gene Reid Park Zoo.
2. Monies from the Gene Reid Park Zoo improvement fund shall be appropriated by the mayor and council only for the purposes set forth in this section.
3. Monies from the Gene Reid Park Zoo improvement fund shall supplement and not supplant the monies that would otherwise be appropriated by the mayor and council to the Gene Reid Park Zoo.
D. The power of the city described in section 5(A) above shall be effective on January 1, 2018, and shall terminate on December 31, 2027.
Editor’s note—Ch. IV. § 5, was added at a special election held November 7, 2017, pursuant to the provisions of Ord. No. 11485. The mayor certified the result of the election on December 1, 2017.