(A) Pursuant to and in accordance with F.S. Chapters 185 and 624, there is hereby assessed and imposed on 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 casualty insurance as shown by the records of the State Insurance Commissioner, an excise tax, in addition to any other lawful license or excise tax now levied by the city in the amount of 0.85% of the gross amount of receipts of premiums from policy holders on all premiums collected on casualty insurance policies covering property within the corporate limits of the city.
(B) The excise or license tax herein provided for shall be payable and collected in the manner provided for by F.S. Chapter 185.
(C) The license or excise tax levied shall be due and payable, annually on the first day of March.
(D) All moneys received by the city, under the provisions of this section shall be paid immediately into its Police Officers' Pension Fund.
(Ord. 1204, passed - - ; Am. Ord. O-88-72, passed 11-2-88)