(A) There is imposed, and each organization conducting gambling within the city shall pay, a tax of 1% of gross receipts from the conduct of gambling activities less the cost of prizes actually paid out by the organization.
(B) The tax shall be paid to the city monthly, no later than 20 days after the end of the month during which the gross receipts were received by the organization.
(C) Each payment of the tax shall be accompanied by a copy of each form and report required to be submitted to the Board for the month during which the gross receipts were received by the organization.
(D) All proceeds from the tax shall be used for the purpose of regulating charitable gambling.
(1998 Code, § 9.08, Subd. 4) (Ord. 76, 5th Series, eff. 2-19-1997)