(a) Upon every person engaging or continuing within the Town in the business of contracting, the tax shall be equal to one and fifty one hundredths percent (1.5%) of the gross income of the business.
(Passed 7-3-22.)
(b) Every person engaging in or continuing within the Town in the business of contracting shall furnish to the Recorder, or any other person so designated by Council, the following information: a statement, accompanying each building permit issued pursuant to the Town Code (Codified Ordinances), listing:
(1) The contractor’s name and address, and the gross income to derived by the contractor from the project for which the building permit is issued; and
(2) Each subcontractor’s name and address and the gross income to be derived by each subcontractor from the project for which the building permit is issued.
(c) In addition to the requirements of subsections (a) and (b) hereof every person engaging or continuing within the Town in the business of contracting shall furnish to the Recorder a cash bond as a condition precedent to the issuance of a building permit as elsewhere provided in the Municipal Code in an amount equal to the gross income to be derived by the contractor from the project for which the building permit is issued multiplied by one and five-tenths percent (1.5%), such bond being conditioned upon compliance with the provisions of Section 763.13.
(Ord. 2011-2. Passed 1-27-11.)