Sec. 18-69. Allocation of local taxes.
As of July 1, 1954, any ordinance to the contrary notwithstanding, all local taxes collected, current and delinquent, including penalties and interest, shall be credited to the general fund, and, beginning July 1, 1954, the allocation of funds to the schools and the public works reserve fund shall be by way of appropriations from the general fund; provided, however, that the school fund for the fiscal year 1953-54 shall be entitled to one-half of its former share [one dollar fifteen cents ($1.15) per hundred of assessment] of real estate taxes levied for the calendar year 1954, notwithstanding the fact that more than one-half of its former share was collected prior to July 1, 1954.
All acts of officers of the city in effectuating the change of method outlined in this section prior to the adoption hereof are hereby in all respects ratified and confirmed. (Code 1959, § 12-44)
Last updated date: 10/23/2006 4:15:21 PM