(A) The city’s municipal food and beverage tax is hereby imposed on all food and beverage transactions occurring anywhere within the city at the rate of 1% of the gross retail income from such food and beverage transactions.
(B) The city’s municipal food and beverage tax shall apply to all food and beverage transactions occurring after the last day of the month succeeding the month in which this regulation is adopted.
(C) (1) There is hereby established a Tax Fund to be known a the Municipal Food and Beverage Tax Fund, into which the Clerk-Treasurer shall deposit all food and beverage tax revenues and all interest earned thereon.
(2) Council now finds that creating Fund 111 Food and Beverage Tax is necessary for the fiscal integrity of the city and shall be created by the City Clerk-Treasurer.
(D) Pursuant to I.C. 6-9-35-13, as added by the Act, the Clerk-Treasurer shall be responsible for maintaining the Tax Fund and for depositing therein the food and beverage tax revenues and any interest earned thereon.
(Ord. 05-21, passed 7-11-2005; Ord. 19-54, passed 10-14-2019)