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Section 1. Pursuant to the authority granted by, and subject to, the provisions of the Compensating Use Tax Law, Sections 144.600 RSMo, et seq,, a local use tax for general revenue purposes is hereby imposed for the privilege of storing, using or consuming within the City of University City, Missouri, any article of tangible personal property. Section 2. The rate of the local use tax shall be one-half of one percent (1/2%). If any City sales tax is repealed, reduced or raised by voter approval, the local use tax shall also be repealed, reduced or raised by the same action. Section 3. The local use tax shall be in effect on the first day of the calendar quarter which begins at least forty-five (45) days after the Missouri Director of Revenue receives notice of adoption of the local use tax. Section 4. The City hereby chooses Option 2 in Section 84.890.4 RSMo as the method of local use tax distribution. One hundred percent (100%) of the local use tax moneys generated within the City pursuant to this ordinance shall be retained in subaccount #2 of the trust fund created in, and allocated as provided in, subdivision (2) of subsection 5 of Section 94.890 RSMo. Section 5. That part of Ordinance No. 6144 which sets the local use tax rate at one and one-half of one percent (1 ½ %) is hereby repealed. Section 6. Ordinance No. 6161, which chooses a method of local use tax distribution for moneys generated pursuant to Ordinance No. 6144, is hereby repealed in its entirety. Section 7. An emergency is hereby declared to exist in that until this ordinance is passed the City will not receive the local use tax moneys to which it is entitled and needs. Section 8. PASSED this This ordinance shall take effect and be in force from and after its passage. ATThST: day of (x~f.3,-~_~ , 1998. CITY CLERK C~FIED TO BE CORRECT AS TO FORM: C~iTY~T~P~Ey