The funds collected under the provisions of this chapter shall be deposited in the General Fund and such funds shall be disbursed in the following order:
(A) Such part thereof as shall be necessary to defray all cost of collecting the tax and the cost of administering and enforcing the provisions of this chapter.
(B) At least twenty eight and fifty-seven hundredths percent (28.57%) of net available income tax receipts shall be used for the purpose of maintaining and operating the Police Department including both operating expenses and capital expenditures required for such Police Department.
(C) Not more than fifty-seven and fourteen hundredths percent (57.14%) of net available income tax receipts shall be used to defray operating expenses of the Village.
(D) At least fourteen and twenty-nine hundredths percent (14.29%) of net available income tax receipts shall be set aside for the purpose of operating the Street Department, for expenses including but not limited to operations, maintenance and paving, construction and reconstruction, resurfacing and repairs of streets, roads, alleys, bridges and culverts.
(Ord. 15-032. Passed 12-21-15.)