§ 40-350. Same—Alternative tax rates.

(a)

Anything to the contrary contained in section 40-348(a) notwithstanding, effective January 1, 1990, the rate of license tax imposed in section 40-348 shall be 2.4 percent of the gross receipts derived from the operations of the licensee within the city.

(b)

Anything to the contrary contained in section 40-349 notwithstanding, effective January 1, 1990, the rate of additional emergency license tax imposed in section 40-349 shall be 1.6 percent of the gross receipts derived from such operations of the licensee within the city.

(c)

This section shall become effective on January 1, 1990, only if prior thereto the city shall have received written acceptance by a licensee of a franchise granted by the city in such form as shall be acceptable to the city, and such franchise licensee and such written acceptance by the franchise licensee shall be filed in the office of the director of records.

(d)

If this section becomes effective, an occupation license shall be issued to any franchise licensee which shall have paid to the city the full amount of the normal license tax of 2.4 percent and the additional emergency license tax of 1.6 percent of the gross receipts of the licensee under this section.

(e)

The alternative tax rates provided for in this section shall be imposed in lieu of the tax rates set forth in section 40-348 and section 40-349; and, so long as this section is in effect, the city shall not impose the tax rates set forth in sections 40-348 and 40-349.

(Code of Gen. Ords. 1967, § 21.444.1; Ord. No. 64314, 6-29-89)