(A) Pursuant to and in accordance with F.S. Chapters 175 and 624, as amended, there is hereby assessed and imposed upon every insurance company, corporation or other insurer now engaged in or carrying on or who shall hereafter engage in or carry on the business of property insurance as shown by the records of the State Insurance Commissioner, an excise tax, in addition to any lawful license or excise tax now levied by the city in an amount equal to 1.85% of the gross amount of receipts of premiums from policy holders on all premiums collected on property insurance policies covering property within the corporate limits of the city.
('72 Code, § 32-14)
(B) The excise or license tax herein provided for shall be payable and collected in the manner provided for by F.S. Chapter 175, providing for the creation and administration of a Fireman's Relief and Pension Fund in certain cities and towns.
('72 Code, § 32-15)
(C) (1) All funds received by the city under the provisions of F.S. Chapter 175 shall be paid immediately over into such city's “Firemen's Relief and Pension Fund,” and shall not be commingled with any other fund or funds of the city.
(2) All funds and securities of the Firemen's Relief and Pension Fund, shall be deposited with the Director of the Department of Financial Services, who shall keep the same in a separate fund and shall hold, invest, and disburse the same only in accordance with the provisions of F.S. Chapter 175.
('72 Code, § 32-16)
(D) The City Commission does, by this section, put into effect the provisions of F.S. Chapter 175, in respect to the creation and operation of a Firemen's Relief and Pension Fund, in accordance with the provisions of F.S. Chapter 175.
('72 Code, § 32-17)
(Ord. 438, passed - - ; Am. Ord. O-88-73, passed 11-2-88; Am. Ord. O-94-06, passed 2-2-94; Am. Ord. O-95-67, passed 11-1-95)