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.___________________________________ LEGAL NOTICE ____________________________________ ORDINANCE NO. 16-23 BY: COUNCILMAN BRYAN MORRIS AN ORDINANCE LEVYING A ONE-FOURTH (1/4) OF ONE PERCENT (1%) TAX UPON THE GROSS PROCEEDS OR GROSS RECEIPTS DERIVED FROM ALL SALES TAXABLE UNDER THE OKLAHOMA SALES TAX CODE OR UNDER SECTIONS 66-31 THROUGH 66-56, INCLUSIVE, OF THE CODE OF ORDINANCES OF THE CITY OF ADA, OKLAHOMA; PROVIDING THAT THE REVENUES FROM SUCH TAX SHALL BE USED FOR ECONOMIC DEVELOPMENT; PROVIDING EFFECTIVE DATE; PROVIDING ENDING DATE; PROVIDING THE PROVISIONS ARE CUMULATIVE; AND PROVIDING FOR SEVERABILITY. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF ADA, OKLAHOMA: SECTION 1. There is hereby levied a one-fourth (1/4) of one percent (1%) tax upon the gross proceeds or gross receipts derived from all sales taxable under the Oklahoma Sales Tax Code or under Sections 66-31 through 66-56, inclusive, of the Code of Ordinances of the City of Ada, Oklahoma. The revenues derived from such tax shall be transferred to the Ada Public Works Authority to be used to provide economic development for the Ada area. This economic development shall include, but not be limited to, the marketing of Ada, Oklahoma, to potential new businesses, creating new jobs by attracting new businesses to the Ada area, retaining existing jobs and creating additional jobs by the expansion of existing businesses, facilitating the building of new businesses and the expansion of existing businesses, and contracting with public trust authorities, non-profit corporations or foundations to obtain assistance in accomplishing economic development and expansion of the Ada area. All revenues allocated to this purpose shall be deposited in a special account to be named the “Economic Development Account of the Ada Public Works Authority,” to be audited on an annual basis, and such proceeds shall be used specifically for the purposes contained herein. SECTION 2. The tax levied by this ordinance shall be considered an extension of the tax previously provided in Ordinance No. 12-10, and shall become and be effective on May 1, 2018, subject to approval of a majority of the qualified electors of the City of Ada, Oklahoma, voting on the same in the manner prescribed by law. The tax authorized herein shall no longer be collected and shall expire on April 30, 2023. SECTION 3. The provisions of this ordinance shall be cumulative, and in addition to any and all other taxing provisions of the City Ordinances. SECTION 4. The provisions of this Ordinance are severable, and if any part or provision hereof shall be adjudged invalid by any court of competent jurisdiction, such adjudication shall not affect or impair any of the remaining parts or provisions hereof. PASSED AND APPROVED this 7th day of November, 2016. ATTEST: CITY OF ADA By: /s/ Sally Pool City Clerk (seal) By: /s/ Guy Sewell Mayor