A. Each organization licensed to conduct lawful gambling within the City pursuant to Minnesota Statutes section 349.16, as amended from time to time, shall contribute ten percent (10%) of its net profits derived from lawful gambling in the City to a fund administered and regulated by the City without cost to the fund.
B. Payment required by subsection A of this section shall be made within thirty (30) days of the end of each quarter of the year.
C. The City shall disburse the funds for lawful purposes as defined by Minnesota Statutes section 349.12, subdivision 25, as amended from time to time.
D. The City's use of such funds collected pursuant to subsection A of this section shall be determined by resolution of the City Council. (Prior Code § 7-12-13)