Any corporation or association shall pay to the Foreign Fire Insurance Board for the maintenance, use and benefit of the Fire Department a sum of money equal to 2% of the gross receipts each year received for premiums by any and all agents of any corporation or association or received as premiums in any way for fire insurance policies on any property in the city. Each designated corporation, company and association shall pay at the rate so prescribed, upon the amount of all premiums which have been received during the year ending on July 1 for all fire insurance effected. As part of the annual municipal audit, these funds shall be audited to verify that the purchases made with appropriated monies are for the maintenance, use and benefit of the Department.
(1980 Code, § 19.502) (Ord. 9013, passed 5-3-2004) Penalty, see § 10.99