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AN ORDINANCE IMPOSING A LOCAL USE TAX FOR GENERAL REVENUE PURPOSES AT THE RATE OF ONE-HALF OF ONE PERCENT (1/2%) FOR THE PRIVILEGE OF STORING, USING OR CONSLIMING WITHIN THE CITY ANY ARTICLE OF TANGIBLE PERSONAL PROPERTY PURSUANT TO THE AUTHORITY GRANTED BY, AND SUBJECT TO, THE PROVISIONS OF THE COMPENSATING USE TAX LAW, SECTIONS 144.600 RSMO, ET SEQ.; PROVIDING FOR THE USE TAX TO BE REPEALED, REDUCED OR RAISED IN THE SAME AMOUNT AS ANY CITY SALES TAX IS REPEALED, REDUCED OR RAISED; CHOOSING THE METHOD OF LOCAL USE TAX DISTRIBUTION AS REQUIRED UNDER SECTION 144.757 RSMO, SO THAT THE TAX MONEY SHALL BE DISTRIBUTED TO THE CITY BASED ON THE PERCENTAGE RATIO THAT ITS POPULATION BEARS TO THE TOTAL POPULATION OF ALL MUNICIPALITIES CHOOSING THE SAME OPTION; AND REPEALING ORDINANCE NO. 6161 AND THAT PART OF ORDINANCE NO. 6144 WHICH SETS THE RATE AT ONE AND ONE-HALF OF ONE PERCENT (1 ½ % ); CONTAINING AN EMERGENCY CLAUSE. WHEREAS, the city has imposed a local sales tax, as defined in Section 32.085 RSMo, at the rate of one-half of one percent (1/2%); and WHEREAS, on April 7, 1998 the qualified voters of the City approved Proposition E, which authorized the City to impose a local use tax at the same rate as the local sales tax; and WHEREAS, the City is authorized under Section 144.757 RSMo to impose a local use tax at a rate equal to the rate of the local sales tax in effect in the City; and WHEREAS, ifa local use tax is imposed, Section 144.757 RSMo requires the City to choose one of the two local use tax distribution methods permitted in Section 97.890 RSMo; and WHEREAS, under Option 1, eighty-five percent (85%) of the tax moneys generated within the City would be returned to the City and the remaining fifteen percent (15%) would be allocated as provided under Option 2; and WHEREAS, under Option 2, one hundred percent (100%) of the tax moneys generated within the City would be retained in a trust fund created in the state treasury and distributed to each municipality choosing Option 2 based on the percentage ratio that the population of that municipality bears to the total population of all municipalities choosing Option 2. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: