There is hereby imposed on all “FINANCIAL INSTITUTIONS” as defined in KRS Chapter 136, located within the corporate limits of the city, for the 2004 tax year and all subsequent tax years, a franchise tax at the rate of 0.015% on all deposits with the city, as defined in KRS Chapter 136, which deposit are maintained by the financial institutions, as such deposits are certified to the city by the Kentucky Revenue Cabinet not later than October 1 of each year, being taxable deposits located within the limits of the City of Flemingsburg, Kentucky.
(Ord. 12-03-2, passed 12-15-03)