By Jan Schultz
The Imperial Republican
Imperial’s gross proceeds from the one percent city sales tax started in April, 2007, is approaching the million dollar mark.
With November’s $32,051.09 added to each month’s totals from the past two a half years, the gross total has reached $964,891.07.
If December’s take during the busy holiday shopping season tallies over $35,109 the gross total will bypass $1 million.
Of course, the city has earmarked much of the income from the city sales tax, half of which is kept in a fund for economic development and the other half for community projects.
One of the big commitments for the money in the economic development fund is for purchase of the former Melvin and Dorothy Miller ground, east of the Schroeder Park ball fields, approved last year.
Last June, the council approved the $360,000 purchase of that ground, and the bond payments on the acreage will be made from the sales tax dollars in the economic development fund.
Likewise, the city’s bond payments for the new pool are being made from the sales tax dollars in the community projects fund.
Other approved uses of the sales tax funds include $60,000 for doctor recruitment, $25,000 to Mid-Plains Community College for purchase of their new campus site, $8,350 for the city’s 125th birthday celebration this summer and $7,000 to the Imperial Lions toward construction costs of new restrooms at Campbell Park.
Other funds have also gone towards MarketPlace scholarships to local businesses and business startup loans.
Each month, when the city receives its sales tax proceeds from the Nebraska Dept. of Revenue, it is divided 50/50 between the economic development and community projects funds. That’s after the city sales tax received from motor vehicle sales is removed and placed in the city’s street department.
The monthly totals listed in the accompanying box include the motor vehicle sales tax monies.
From November’s proceeds, $2,889.19 came from the vehicle sales tax.
Monthly city sales tax proceeds
Total (gross) $964,891.07