The tax provided under this subchapter of this code shall be imposed and collected in the manner set forth herein until or unless the same shall be modified, amended or repealed by ordinance amending this code or other ordinance of the City Council. Effective November 1, 2016, unless otherwise provided by ordinance duly adopted, the tax imposed by § 45.017 above, shall be reduced to a rate of 8% of the rental or leasing charge. These said rates to be reviewed and if decided by appropriate City Council action, revised annually beginning in January of 2018 at the second regular meeting of the City Council in January, but no later than the final City Council Meeting in January, and every subsequent January of every year prior to budget review process. If the re-affirmation, re-adoption or revision is not accomplished on the annual schedule listed herein, the rate will revert to the rate in effect prior to the adoption of Ordinance 9058. Nothing herein shall be construed to limit, restrict or waive the right and authority of the City Council to amend, modify or repeal this subchapter or to create any vested right or interest therein.
(1980 Code, § 17.213) (Ord. 9314, passed 9-18-2017; Ord. 9393, passed 12-9-2019)