(A) For transition purposes, the schedule for the bills and payment of the franchise tax hereby levied and imposed for 1996 shall be different than the schedule thereof for all subsequent years:
(1) The executive authority of the city shall cause a bill for the franchise tax levied and imposed hereby, for the year of 1996, to be issued to each financial institution subject thereto, no later than May 1, 1997; and
(2) The franchise tax levied and imposed hereby for 1996 shall be due and payable to the city, on May 31, 1997, at the office of the City Clerk, and shall be subject to a discount of 2% thereof if paid prior thereto; and shall become delinquent on June 30, 1997.
(B) Except for the franchise taxes levied and imposed hereby for the year of 1996, the schedule for the bills and payment of the annual franchise tax levied and imposed hereby shall be as follows.
(1) The executive authority of the city shall cause a bill for the annual franchise tax levied and imposed hereby to be issued to each financial institution subject thereto, on or before December 1 of each calendar year.
(2) The franchise tax levied and imposed hereby shall be due and payable to the city, on December 31 of each year, at the office of the City Clerk; and shall be subject to a discount of 2% thereof if paid prior thereto.
(1996 Code, § 114.02) (Ord. 2081, passed 9-17-1996)