[Ord. No. 3798 §§ 1—3, 11-7-1977]
A. City Sales Tax Fund. Any monies which may be derived by
the City of Sikeston, Missouri, by reason of the imposition of a one
percent (1%) sales tax pursuant to Section 144.010, et seq., RSMo.,
and Section 94.500, RSMo., et seq. (as amended, 1977), shall be deposited
in a separate and distinct fund denominated as Sales Tax Proceeds
Fund. Said monies shall be kept separate from all other funds derived
by the City of Sikeston, Missouri, and shall be expended for general
revenue purposes, as by law provided, and according to the provisions
of this Section as hereinafter set out. The City of Sikeston imposes
a one percent (1%) sales tax as enacted and approved on November 7,
1977.
B. Budgeting Funds—Public Hearing. The expenditures to be made by the City of Sikeston, Missouri, from monies of the Sales Tax Proceeds Fund shall be budgeted annually as part and parcel of the City of Sikeston's budgeting process as by law provided. The budget of expenditures of monies of the Sales Tax Proceeds Fund shall be made and carried out separate and distinct from all other funds of the City of Sikeston, Missouri. Prior to the approval of the budget of expenditures of monies of the Sales Tax Proceeds Fund, the City Council of the City of Sikeston, Missouri, shall hold a public hearing for discussion of the expenditure of said funds. A notice of said public hearing shall be published in a newspaper of general circulation in the City of Sikeston, Missouri, as set forth in Section
6.5 of the City Charter.
C. Use Of Sales Tax Proceeds Fund. The budget of and expenditure
of monies of the Sales Tax Proceeds Fund shall conform with the Constitution
and laws of the State of Missouri and in accordance with all ordinances
adopted by the City Council of the City of Sikeston, Missouri. The
said monies shall be used for general revenue purposes, limited however
to the following two (2) classifications of expenditures:
1. To maintain and continue existing services provided by the City of
Sikeston, Missouri, including, but not limited to, parks, streets,
storm sewers, public safety protection and the replacement of equipment
needed to maintain and continue said services; and
2. To provide for capital improvements including, but not limited to,
storm sewers; the reconstruction of major arterial streets; streets
within the Park System of the City of Sikeston, Missouri; the extension
of utilities into tracts of land annexed by the City in 1970 and 1974;
traffic signals; and to match Federal grants for capital improvements.