This chapter shall be known and may be cited as "the Inyo County transactions and use tax auditor's trust accounts ordinance."
(Ord. 832 § 1, 1988)
This chapter is adopted to achieve the following, among other purposes and this chapter shall be interpreted liberally to accomplish those purposes:
A. 
This board has adopted by a two-thirds vote of its members an ordinance that imposes within Inyo County a retail transactions and use tax in accordance with Part 1.6 and Chapter 2 of Part 1.7 of Division 2 of the Revenue and Taxation Code. That ordinance will only become effective upon approval by a majority of the qualified voters of Inyo County voting on the question of whether to impose a transactions and use tax within the county; and
B. 
This board has adopted an ordinance which provides that if the imposition of a transactions and use tax is approved by the voters, the county of Inyo will disburse twenty-five percent of the proceeds from the tax to the city of Bishop during the 1988-1989 fiscal year, and will disburse thirty percent of the proceeds from the tax to the city of Bishop in each fiscal year after the 1988-1989 fiscal year;
C. 
In the event that the imposition of a transactions and use tax is approved by the voters, the county of Inyo will use the proceeds from the tax to fund public services and programs, specifically including some or all of the costs of solid waste disposal, hazardous waste disposal and the criminal justice system.
(Ord. 832 § 2, 1988)
The auditor-controller of Inyo County is authorized and directed to establish the following auditor's trust accounts:
A. 
A solid waste disposal trust account;
B. 
A hazardous waste disposal trust account;
C. 
A criminal justice trust account.
(Ord. 832 § 3, 1988)
Upon receipt of the proceeds of the transactions and use tax from the State Board of Equalization, and after disbursement of the appropriate amount to the city of Bishop, the auditor-controller shall deposit the remaining proceeds only as follows:
A. 
Into the solid waste disposal trust account until all budgeted costs of solid waste disposal for the fiscal year are matched by deposits in this account. Any proceeds received in excess of this amount shall be deposited as follows;
B. 
Into the hazardous waste disposal trust account until all budgeted costs of hazardous waste disposal for the fiscal year are matched by deposits in this account. Any proceeds received in excess of this amount shall be deposited as follows;
C. 
Into the criminal justice system trust account until all budgeted costs of the criminal justice system for the fiscal year are matched by deposits in this account. Any proceeds received in excess of this amount shall be deposited as follows;
D. 
Into the general fund.
(Ord. 832 § 4, 1988)