Each person, firm, organization or corporation that leases real property or improvements to real property within the city is deemed to be engaged in business and shall obtain a license from the city. The cost of this license shall be in an amount equal to 1% of the first $250,000 of gross receipts of the tax payers preceding business (fiscal or calendar) year, derived from real estate and/or improvements thereon within the city, and an amount equal to 1.5% of all gross receipts in excess of $250,000 for the same year, provided that the total amount paid annually for this license shall not be less than $250.
(Ord. 2 - series 1990/1991, passed 10-15-1990) Penalty, see § 114.99