The City of
Newton Falls

Ordinance 2016-10

ORDINANCE 2016 – 10

AN ORDINANCE AMENDING COLLECTED INCOME TAX ALLOCATIONS.

WHEREAS, The City of Newton Falls has previously established an Ordinance to allocate the income tax funds collected during the fiscal year; and

WHEREAS, The City of Newton Falls has closed the day-to-day operation of the Community Center as of January 1 2016; and

WHEREAS, The present allocation in the amount 10% to Parks and Recreation is no longer required; and

WHEREAS, City Council deems it necessary and in the best interest of the City to amend the existing 10%  Parks and Recreation Income Tax  Allocation to apply 1.5% to Parks and Recreation, 80% to General Fund and 10.5% to Street Construction, Maintenance and Repair Fund.

THE COUNCIL OF THE CITY OF NEWTON FALLS, STATE OF OHIO, HEREBY ORDAINS:

Section I:         The  Income Tax Collections shall be allocated beginning the fiscal year 2016 and thereafter as follows:

80 % General Fund

10.5 % Street Construction, Maintenance and Repair Fund

5 %  Capital Improvement Fund

1.5 %  Parks and Recreation Fund

1 %  Building Fund

2 %  General Fund Reserve Fund

 

Section II:       Any ordinances or parts of ordinances in conflict with the context of this ordinance are hereby repealed.

PASSED IN COUNCIL THIS ______ DAY OF NOVEMBER,  2016.

 

 

_____________________________

Mayor, Lyle Waddell

 

 

ATTEST:______________________________

Clerk of Council

AJF