The Funds collected under the provisions of this chapter shall be deposited in the Income Tax Fund and shall be designated and distributed in the following manner, to-wit:
(a) Such part thereof as shall be necessary to defray all costs of collecting the tax and the costs of administering and enforcing the provisions of this chapter.
(b) The Funds derived from the tax shall be divided as follows: Sixteen percent (16%) of the tax collected shall be designated for the management, operation, upkeep, and improvement of the Parks and Recreational Facilities of the Municipality; Seventy-two percent (72%) shall be designated for the General Fund for improvements to the Municipality including but not limited to street curbs, traffic control, and the purchase of equipment necessary for the Police, Fire, Traffic, and other Municipal functions under the Department of Services, or the Department of Safety; Twelve percent (12 %) is hereby designated for the Capital Improvement Fund, which said funds shall be expended for any capital improvement which is properly authorized and funds appropriated by this Council. (Ord. 25-13. Passed 11-20-17.)