181.02 IMPOSITION OF TAX

To provide for the purpose of general municipal operations, maintenance, new equipment and capitol improvements of the Village there is hereby levied a tax at the rate of one and three quarters percent (1 3/4%) per annum upon the following:

(a)     On all salaries, wages, commissions and other compensation earned on and after January 1, 2002 by residents of the Village.

(b)     On all salaries, wages, commissions and other compensation earned on and after January 1, 2002 by nonresidents of the Village for work done or services performed or rendered in the Village.

(c)     (1)     On the net profits earned on and after January 1, 2002 of all unincorporated businesses, professions, or other activities conducted in the Village by residents of the Village.

          (2)     On the net profits earned on and after January 1, 2002 of all unincorporated businesses, professions, or other activities conducted in the Village by nonresidents of the Village.

          (3)     For the purpose of subsections (c) (1) and (c) (2) hereof, an association shall not be taxable as an entity, but any member thereof who is a resident of the Village shall be taxed individually on his entire share, whether distributed or not, of the annual net profits of the association, and any nonresident members thereof shall be taxed individually only on that portion of their share, whether distributed or not, of the annual net profits of the association as is derived from work done, services performed or rendered, and business or other activities conducted in the Village.

     (d)     On the net profits on and after January 1, 2002, of all corporations, estates, trusts, and limited partnerships, derived from work done or services performed or rendered and business or other activities conducted in the Village, whether or not such corporations, estates, trusts and limited partnerships, have their principal or any place of business located in the Village.

181.17 ALLOCATION OF FUNDS

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, to wit:

          (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 forty percent (40%) of net available income tax receipts shall be used to defray operating expenses of the Village.

          (d)     At least seventeen and fourteen hundredths percent (17.14%) of net available income tax receipts shall be set aside for capital improvements of the Village, including but not limited to, development and construction of sewers; to provide for improvements and maintenance of streets; to provide for construction and maintenance of public buildings; for equipment necessary for the police, fire, streets and service departments; and to provide for park and playgrounds.

          (e)     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.