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A. License Required: Every person or firm engaged in the banking business or savings and loan association business must obtain a business license from the City Clerk.
B. Application: The application must be made on a form provided by the City Clerk.
C. Business License Fee:
1. Every bank, savings and loan institution and each branch thereof shall pay a license fee as established by a resolution of the City Council.
2. At the beginning of each annual licensing period, each bank, savings and loan institution, and each branch thereof, will submit with their application a tabulation setting forth total deposits in the particular bank, association or branch on the last day of each of the previous four (4) calendar year quarters. The license fee will be based on the average of these quarterly totals. (Ord. 507, 5-26-1998)