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ORDINATTCE No. <br /> AN ORDInJSCE relating to the withholding, collection End <br /> payment of victory taxes required by the Revenue Act of 1942, and <br /> creating the Federal Victory Tax Fund in connection therewith, <br /> and declaring an emergency. <br /> WHEREAS, Section 466 of the Federal Revenue Act of <br /> 1942 requires that there shall be withheld , collected and paid <br /> upon ell wages of every person to the extent that such wages ere <br /> includable in gross income after December 31, 1942, a victory <br /> tax equal to five percentum of the excess of each payment of such <br /> wages over the withholding deduction allowed by said Act, and <br /> Section 467 of said 1,ct requires that such tax shall be collected <br /> by the person having, control of the payment of such wages by <br /> deducting such amount from said wages as End when paid. <br /> THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: That there be and hereby is created in <br /> the City Treasury a special fund designated "Federal Victory <br /> Tax Fund" into which shall be pEid the victory tax moneys re- <br /> quired to be withheld and collected from salaries and wages of <br /> officers and employees of the City under Sections 450 et seq. of <br /> the Federal Revenue Act of 1942 (Public Law 753, 77th Con Tess) <br /> and out of which shall be paid to the Federal Government the <br /> victory taxes so withheld and collected as required by said Act. <br /> Section 2 : That the City Clerk is authorized end <br /> directed to withhold_ and collect the victory taxes as required <br /> by Section 466 of said Act upon all semi-monthly payrolls for <br /> work done after December 31, 1942 , end transfer the aggregate <br /> amount thereof to such special fund. The City Clerk is further <br /> authorized and directed to perform the other duties required by <br /> said Act and particularly to make a return End payment of the <br /> funds so withheld and collected to the Federal Government as <br /> contemplated by Section 468 of said Act . <br /> Section 3: That the City Clerk end other authorizes <br /> officers are authorized and directed to from tine to time draw <br /> and deliver and the City Treasurer to honor and pay the necessar, <br /> warrants upon and in favor of said special fund and the necessary <br /> appropriations are hereby made. <br /> Section 4: An emergency is declared to exist and <br /> this ordinance shall take effect upon its passage and publicatio . <br /> mayor <br /> Attest: <br /> City Clerk <br /> Passed: / 2- - S' - 1/ 5t <br /> Published: / 2 -r - �f <br />