There is hereby imposed on all “financial institutions,” as defined in KRS Chapter 136, located within the corporate limits of the city, for the 1996 tax year and all subsequent years, a franchise tax at the rate of 0.025% on all deposits, as defined in KRS Chapter 136statutory, maintained by such financial institutions.
(Prior Code, § 114.01) (Ord. 8.96-1, passed 8-19-1996)