Pending approval at the special election held January 17, 1998, the following sales and use taxes are adopted by the city:
(A) The adoption of a sales and use tax within the city for the promotion and development of new and expanded business enterprises at the rate of one fourth of one percent (¼%) and the adoption of an additional sales and use tax within the city at a rate of one fourth of one percent (¼%) to be used to reduce the property tax rate.
(B) The adoption of an additional sales and use tax within the city at the rate of one half of one percent (½%) to be used for but not limited to land, buildings, equipment and improvements and other purposes authorized by Tex. Rev. Civ. Stat. Art. 5190.6, § 4B, and the operation and maintenance expense of any authorized project.
(Ord. 807, passed 12-2-97)