(a) BANKING BUSINESS or FINANCIAL ORGANIZATION means any bank, banking association, trust company, industrial loan company, small loan company or licensee, building and loan association, credit union, finance company, investment company, investment broker or dealer and any other similar business organization at least 90% of the assets of which consists of dividends, interest and other charges derived from the use of money or credit.
(b) Upon any person engaging or continuing to engage within the town, in the banking and other financial business, there is hereby levied and shall be collected taxes, on account of the business engaged in, equal to the gross income of the banking business or financial organization, banking association, trust company, industrial loan company, investment broker or dealer and any other similar business organization, 1% on the gross income.
(Ord. passed 1-11-1983; Ord. 1990-05, passed 6-12-1990)