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(a) All tax, interest, and penalties collected under the provisions of this subchapter shall be deposited in a separate bank account to be maintained by the city or town. From the proceeds shall be paid the cost of duplicate receipts and windshield stickers.
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(b) All proceeds remaining after the payment of the expenses shall be used as follows:
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(1) Fifty percent (50%) of the proceeds shall be used for the payment of salaries of law enforcement personnel and personnel of the fire department; and
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(2) Fifty percent (50%) of the proceeds shall be used for the maintenance, construction, and reconstruction of streets and other public ways in the town or municipality.
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