A. Every organization licensed by the Minnesota Gambling Control Board to conduct gambling in the City shall contribute ten (10) percent of its net profits from gambling to the City of Columbus Fund established in Section 4-806 of this Code. Net profits mean profits less amounts expended for allowable expenses.
B. Payments of ten (10) percent of net profits shall be made on a monthly basis and are due on the same day and manner as the duplicate tax returns and taxes collected and remitted to the City under Section 4-805.
C. The City shall disapprove of any pending application for renewal or original issue of a premises permit for any organization which fails to contribute ten (10) percent to the City of Columbus Fund.
[CHAPTER 4, ARTICLE VIII, Section 4-807,added by Ord. No .12-07, effective October 4, 2012, amended by Ord. No. 13-02, effective April 4, 2013.]