Laserfiche WebLink
methodology for the trial period does not meet the City's revenue-neutral objective, then this <br /> ordinance shall sunset and be deemed repealed as of 2:00 a.m. January 1, 1999, and Section 1 <br /> of Ordinance No. 2264-98 shall be in full effect and enforced as of 2:00 a.m. January 1, 1999. <br /> Section 1 of Ord. 2264-98, in amending Section 5 of Ord. 1023-84, provides as follows: <br /> Section 5: Tax on Punch Boards and Pull-Tabs <br /> 5.1 There is hereby levied upon and shall be collected from and paid by every commercial <br /> stimulant operator utilizing punch boards or pull-tabs, a tax in an amount of four (4) percent of <br /> the gross receipts received from punch boards or pull-tabs. <br /> Is hereby amended to read as follows: <br /> Punch boards and pull-tabs—Commercial stimulant operators. <br /> paid by every commercial stimulant operator utilizing punch boards or pull tabs, a tax in an <br /> amount of ten percent of the gross receipts from punch boards or pull tabs less the amount <br /> awarded as cash or merchandise prizes. (Ord. 2265 98 § 3, 1998: Ord. 2264 98 § 1, 1998: Ord. <br /> 1301 86 § 1 (part), 1986; Ord. 1023 84§ 5.1, 1984 <br /> Sections 4 and 5 of Ord. 2265 98 provide as follows: <br /> during this trial period, the City will conduct a review and analysis of punch board and pull tab <br /> tax activity following collection of third quarter 1998 revenues and tax return data. <br /> Section 5: If the City Council determines that in its evaluation the herein described tax <br /> methodology for the trial period meets the City's revenue neutral objective, then this <br /> ordinance shall not sunset but shall become permanent and Section 1 of Ordinance No. 2264 <br /> 98 is hereby rep pled effective 2:00 a.m. January 1, 1999. If Cit-Ceuncd fa+ls to mit <br /> above described determination or if the City Council finds that the herein described tax <br /> methodology for the trial period does not meet the City's revenue neutral objective, then this <br /> ordinance shall sunset and be deemed repealed as of 2:00 a.m. January 1, 1999, and Section 1 <br /> - , - I • - - - -• ••! • - - ••• <br /> Section 5: Tax on Punch Boards and Pull Tabs <br />