§ 90-2. Tax levy.

(a)

That there is hereby levied and there shall be collected for the use and support of the municipal government of the city, and to provide an interest and sinking fund for the retirement of each series of outstanding general obligation bonds of the city, upon all property, real, personal and mixed, within the corporate limits of the city, subject to taxation, a tax of $0.49 on each $100.00 valuation of property for the tax year 2011. Said tax being so levied and apportioned for the purposes hereinafter set forth, to-wit:

(1)

For interest and sinking funds of the city, for payment of the principal as it matures and interest as it accrues upon all outstanding general obligation bonds of the city, a tax of eighteen and 9925/10,000ths cents (18.9925) on each $100.00 valuation of property.

(2)

For the maintenance and operation of the general government of the city (general fund), a tax of thirty and 75/10,000ths cents (30.0075) on each $100.00 valuation of property.

(b)

All monies collected under this section are hereby appropriated and set apart for the purposes recited, and the city manager shall cause books of account to be kept so as to readily and distinctly show amounts collected and expended and on hand at any time, in each of said funds, and it is hereby made the duty of every person collecting or receiving money for the city, pursuant to the supervision and direction of the city manager, to deliver to the city and its designated officer or employee all such money so collected or received, together with a statement showing to what fund such should be deposited and from what source received. All receipts of the city not specifically apportioned by this section are hereby made payable to the general fund, unless the city council shall by resolution or ordinance otherwise direct.

(Ord. No. 99-8, §§ 1—3, 9-21-99; Ord. No. 2004-13, §§ 1—3, 9-7-04; Ord. No. 2009-14, §§ 1, 2, 9-15-09; Ord. No. 2010-15, § 1, 9-21-10; Ord. No. 2012-14, §§ 1, 2, 9-18-12)