§ 18-280. Sales and Use Tax Fund.

(a)

That all sums collected under the provisions of this article, less the commissions allowed to dealers and the costs of collection as provided in section 18-277 hereof, shall be distributed in accordance with section 18-278 hereof by the tax collector. The Treasurer of the town shall deposit such sums in a special fund to be designated as the Sales and Use Tax Fund immediately upon receipt of said taxes.

(b)

The moneys or funds received from the collection of said taxes, less and except the commissions to dealers and the costs and expenses of collection as provided for in section 18-277 referred to in subsection (a) above, shall remain on deposit in the Treasury of the town until such time as all or any part thereof is properly disbursed by and through action of the Mayor and Board of Aldermen of the town only. In furtherance of the provisions hereof, no funds shall be used and disbursed from the Sales and Use Tax Fund other than in the case of the exceptions hereinabove referred to for any purpose or purposes whatsoever other than for the purpose or purposes of repairing and maintaining public streets, alleys, sidewalks and for the purpose of repairing and maintaining town drainage and for additional drainage; for the establishing, maintaining and replacing of park and recreational facilities; for general funds purpose; and for the protection of public health and safety in and for the town, Louisiana, title to which shall be in the public.

(Ord. No. 8-1992-1, § 13.05, 8-10-92)