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(a) 23701d Organizations. With respect to organizations exempt from payment of the Bank and Corporation Tax by Section 23701d of the Revenue and Taxation Code, all profits derived from a bingo game must be kept in a special fund or account and must not be commingled with any other fund or account. Those profits may only be used for charitable purposes.
(b) Other Organizations Authorized to Conduct Bingo Games. All proceeds derived from a bingo game must be kept in a special fund or account and must not be commingled with any other fund or account. Proceeds are the receipts of bingo games conducted by organizations not within subsection (a) above. Those proceeds may only be used for charitable purposes, except as follows:
(1) The proceeds may be used for prizes.
(2) A portion of the proceeds, not to exceed twenty percent of the proceeds before the deduction for prizes, or two thousand dollars per month, whichever is less, may be used for rental of property and overhead, including the purchase of bingo equipment, administrative expenses, security equipment, and security personnel.
(3) The proceeds may be used to pay license fees.
(c) Records. Each licensee must keep full and accurate records of the income and expenses received and disbursed in connection with its operation, conduct, promotion, supervision and any other phase of bingo games which are authorized by this chapter. The city, by and through its authorized officers, has the right to examine and audit such records at any reasonable time without prior notice and the licensee shall fully cooperate with the city by making such records available. The licensee must maintain all such records for the period of time required by state and federal laws and for three years for purposes of this chapter.
(Ord. 790 § 16 (part), 1999)