§ 120.01 IMPOSITION OF TAX.
   There is hereby imposed on all "financial institutions" as defined in KRS Chapter 136, located within the corporate limits of the city, for the 1996 tax year and all subsequent years, a franchise tax at the rate of 0.025% on all deposits, as defined in KRS Chapter 136, maintained by such financial institutions. The franchise and local deposit tax shall be based upon the amount of the deposits as certified to the city by the Kentucky Revenue Cabinet.
(Ord. 96-32, passed 8-19-96)