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 twenty-five thousandths of one percent (0.025%) on all deposits (as defined in KRS Chapter 136) maintained by such financial institutions.
(Ord. 7-96, passed 10-7-96; Am. Ord. 4-97, passed 4-7-97)