A. City Property In Trust: All sums of money paid by the consumer to the retailer as taxes imposed by this City Tax Code shall be and remain public money and the property of the City in the hands of the retailer. The retailer shall hold the money in trust for the sole use and benefit of the City until paid to the Director. It shall be unlawful for any retailer to fail or refuse to pay these sums to the Director.
B. Segregated Account: If a licensee is suffering financial difficulty, or is delinquent in making payment of Sales Tax collected, or is apparently using tax money collected for individual purposes, the Director may require the trust funds to be kept segregated in a special account at a bank or other financial institution. Withdrawals from the segregated account shall only be payable to the Director who shall be authorized to make withdrawals from the account. Where a segregated account is not kept as required, all the property of the taxpayer shall be considered trust property of the City. (1968 Code §3-108; Ord. 76-168; Ord. 91-161; Ord. 01-42)