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' ? • ?"""', <br />CITY OF NORTH OLMSTED <br />ORDINANCE N0. 90- 154 <br />BY: Mayor Boyle <br />? <br />AN ORDINANCE TO AMEND SECTIONS 1501.0101, 1501.0501, <br />1501.0502, 1501.1302, 1501.1901 AND 1501.2101 OF THE <br />CODIFIED ORDINANCES OF THE CITY OF NORTH OLMSTED, <br />OHIO, IN ORDER TO INCREASE THE MUNICIPAL INCOMB TAX <br />RATE FROM ONE PERCENT TO TWO PBRCENT AND TO INCRBAS$ <br />THE MUNICIPAL INCOME TAX CREDIT TO ONE HUNDRED <br />PERCENT OF TfE INCOME TAX PAID TO ANOTHER <br />MUNICIPALITY ON INCOME TA7ED BY THE CITY OF NORTH <br />OLMSTED TO THE EXTENT THAT THE INCOMS TAX SO PAID <br />DOES NOT EXCEED TWO PERCENT OF THAT TAXABLB INCOME, <br />AND DECLARING AN EMERGENCY. BE IT ORDAINED by the Couacil of the Citq of North Olmsted, Cuyahoga <br />Countq, Ohio, that: Section 1. Section 1501.0101 of the Codified Ordiaances of the City <br />of North Olms.ted, Ohio, as established by Ordinance No. 67-70, passed May 16, <br />1967, is hereby amentied to read as follows: "1501.0101 PURPOSE OF LEVY OF INCOME TAX. <br /> <br />There shall be and is hereby levied a tax on salaries, <br />wages, commissions and other compensation, and oa net <br />profits as hereinafter provided, to provide funds for the <br />City of North Oimsted to be allocated for use as follows: <br />(a) 15% to pay costs of services and facilities for solid ? <br />waste management, recycling and disposal; (b).15x to pay <br />costs of any permanent improvements for the Citq (including <br />permaaent.improvements to the City's street and storm water. <br />, <br />drainage systems), including the payment of debt charges on <br />bonds and notes issued after 1990 for those purposes, and <br />costs of maintaining the Citq's street and storm water drainage systecas and providing related equipmeat; and (c) <br />the balance to pay costs of general municipal functions of <br />the City." <br />Section 2. Section 1501.0501 of the Codified Ordinances of the City <br />of North Olmsted, Ohio, as established by Ordinance No. 67-70, passed May 16, 1967, as amended,bq Ordinance No. 71-161, passed December 21, 1971, is hereby amended to read as follows: <br />"1501.0501 RATE AND INCOME TAXABLE. <br />An annual tax for the purposes specified in Section <br />1501.0101 shall be imposed, on and after March 1, 1991, at <br />the rate of two percent per annum, upon the following: <br />- 2 -