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BANK FRANCHISE AND LOCAL DEPOSIT TAX
§ 37.105 TAX IMPOSED.
   (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)
§ 37.106 PROPERTY LIEN.
   The City shall have a lien for taxes upon any and all property subject to the tax imposed by these sections, which lien shall be superior to all encumbrances prior or subsequent.
(1995 Code, § 3.28.020) (Ord. O-96-26, passed 8-12-1996)
§ 37.107 DELINQUENT PAYMENT.
   All taxes due in accordance with these sections which are not paid before January 31 shall be deemed delinquent and shall be subject to a penalty of 10% and shall bear interest at the rate of 6% per annum.
(1995 Code, § 3.28.030) (Ord. O-96-26, passed 8-12-1996)
MUNICIPAL PREMIUM LICENSE FEE
§ 37.120 DEFINITIONS.
   For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
   INSURANCE COMPANY. A commercial organization or business entity required to be licensed by the state, to solicit, sell and issue various kinds of policies of insurance coverage undertaking to pay or indemnify another (the insured) as to loss from certain specified contingencies or risks.
   INSURANCE POLICY. A written document or agreement, whereby a contract of insurance is made, including all clauses, riders, endorsements and papers attached thereto.
(1995 Code, § 5.44.010) (Am. Ord. O-2012-007, passed 3-12-12
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