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(A) Pursuant to the authority of KRS Chapter 136, the city hereby levies and imposes an annual franchise tax upon all financial institutions, as defined in KRS Chapter 136, with offices within the corporate limits of the city.
(B) The annual franchise tax hereby levied and imposed shall be at the rate of 0.025% of all deposits, as defined in KRS Chapter 136, maintained by each financial institution subject thereto.
(Ord. 1996-08-15, passed 8-26-96)