AN ORDINANCE PLEDGING SALES TAX REVENUES FOR THE CITY OF PARK CITY, KANSAS

BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF PARK CITY KANSAS:

SECTION 1.          Reduce tax levies.

Not less than 50% of the proceeds of the sales tax will be used to reduce ad valorem taxes levied upon the tangible property located within the City of Park City, Kansas.

SECTION 2.          Procedure Followed for Reduction

The following procedure shall be followed to accomplish the reduction of Park City 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.  Sales Tax proceeds will be applied directly to those funds to reduce any property tax levy requirement.

SECTION 3.          Distributions by Department of Revenue.

If approved by a majority of the electors voting thereon, such tax shall be subject to all applicable state laws and 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 4.          Duration and Effect

This ordinance shall continue in effect for such period of time as the City of Park City continues to receive revenues of a one cent sales tax by participation in the countywide tax.

(07-13-1982)