(A) here is hereby imposed on all financial institutions, as defined in KRS 136.500 and 136.575, located within the County of Woodford in the Commonwealth of Kentucky, a franchise tax at the rate of 0.025% on all deposits, as defined in KRS 136.500 and 136.575, maintained by the financial institutions.
(B) For all tax years the following timetable is hereby established: Woodford County Government, through the Office of its Treasurer, will issue tax bills to financial institutions no later than December 1 of each year. Payment of this tax shall be due with a 2% discount by December 31 of each year, or without the discount by January 31 of the following year. Payment shall be made to the Woodford County Sheriff, who shall be responsible to collect this tax, and who shall receive his or her commission as previously allowed.
(C) Woodford County Government 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.
(D) All taxes due in accordance with these sections which are not paid before January 31 shall be delinquent and shall be subject to a penalty of 2%, and shall bear interest at the rate of 12% per annum.
(E) All monies collected pursuant to these sections shall be paid by the Sheriff into the General Fund of the county to be used for the payment of proper expenditures as determined by the Woodford County Fiscal Court.
(Ord. 9-96, passed 10-8-1996; Am. Ord. 2005-13, passed 8-23-2005; Am. Ord. 2006-12, passed 9-12-2006)