(A) There is imposed on all “financial institutions,” as defined in KRS 136, located within the corporate limits of the City, a franchise tax at the rate of 0.025% on all deposits, as defined in KRS 136, maintained by financial institutions.
(B) The following timetable is established.
(1) The City will issue tax bills to financial institutions no later than December 1 of each year.
(2) Payment of the tax shall be due with a 2% discount by December 31 of each year, or without the discount by January 31 of each year.
(1995 Code, § 3.28.010) (Ord. O-96-26, passed 8-12-1996)