AN ORDINANCE PLEDGING ALL SEDGWICK COUNTY KANSAS SALES TAX REVENUES ACCRUING TO THE CITY OF GODDARD, KANSAS FOR THE PURPOSE OF FUNDING GODDARD, KANSAS STREET IMPROVEMENTS, MAINTENANCE AND REPAIRS AND FOR REDUCING TAX LEVIES ON TAXABLE TANGIBLE PROPERTY LOCATED WITHIN THE CITY OF GODDARD, KANSAS.
Section 1. All revenue received from the Sedgwick County sales tax shall be used to fund Goddard, Kansas street improvement, maintenance and repair costs and for reducing tax levies on taxable tangible property in Goddard, Kansas in accordance with the allocations as set out below:
(a) Twenty-five percent of the proceeds from the Sedgwick County sales tax will be applied as follows to accomplish the reduction of Goddard, Kansas tax levies. The city will compute and budget the amount of dollars it may raise by levy with the limitations set out in K.S.A. 79-5001, et seq. Twenty-five percent of the sales tax proceeds will be applied directly to those funds to reduce any property tax levy requirements. In the event sales tax funds exceed the amount of property tax necessary to fund the budget under K.S.A. 79-5001, et seq., then any excess will be used to directly reduce property taxes levied but not subject to K.S.A. 79-5001, et seq.
(b) The remaining 75 percent of the proceeds of the Sedgwick County sales tax shall be used for the purpose of funding Goddard, Kansas street improvements, maintenance and repairs.
Section 2. If approved by a majority of the electors voting thereon, such tax shall be subject to all applicable state laws, administrative rules and regulations of the Kansas Department of Revenue. The services of the Department of Revenue shall be utilized to administer, enforce and collect such tax.
Section 3. This ordinance shall continue in effect for such period of time as the City of Goddard, Kansas continues to receive revenues of a Sedgwick County sales tax by participation in the countywide tax.