0351 (Police Pension Fund)ORDINANCE NO. '3;7 j
AN ORDINANCE CREATING A MUNICIPAL POLICE OFFICERS'
RETIREMENT TRUST FUND, AND LEVYING AND IMPOSING UPON
ALL INSURERS, NOW OR HEREAFTER ENGAGED IN OR CARRYING
ON THE BUSINESS OF INSURING WITH RESPECT TO CASUALTY
RISKS AN EXCISE OR LICENSE TAX IN ADDITION TO ANY TAX
NOW LEVIED, OF 1% OF THE GROSS AMOUNT OF RECEIPTS OF
ALL PREMIUMS FROM CASUALTY INSURANCE POLICIES INSURING
PROPERTY WITHIN THE MUNICIPAL LIMITS OF THE CITY OF
OKEECHOBEE; PROVIDING WHEN SAID TAX SHALL BE DUE AND
PAYABLE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Legislature of the State of Florida, by
Chapter 185, Florida Statutes, entitled and known as the "Muni-
cipal Police Officers' Retirement Fund" did provide for the
establishment of said fund pursuant to Section 185.03 thereof,
and did further provide for the levying of a one per cent (i %)
excise tax on casualty insurance premiums pursuant to Section 185.
thereof, the proceeds from said tax to be used in partial support
of aid fund; and
WHEREAS, it is the desire of the City of Okeechobe to put
into full force and effect the provisions of said Chapter 185,
Florida Statutes, specifically Sections 185.03 and 185.08, in
said municipality; Now Therefore:
BE IT ORDAINED BY THE MAYOR AND THE CITY COUNCIL OF THE
CITY OF OKEECHOBEE, FLORIDA:
SECTION 1. There is hereby created a special fund to be
known as the "Municipal Police Officers' Retirement Trust Fund"
as provided for in Florida Statutes 185.03.
SECTION 2. That there is hereby assessed, imposed and
levied on every insurance company, corporation or other insurer no
engaging in or carrying on, or which shall hereafter engage in or
carry on the business of insuring with respect to casualty risks,
as shown by the records of the Insurance Commissioner of the State
of Florida, an excise or license tax in addition to any excise or
license tax now levied by the City of Okeechobee, which said tax
shall be in the amount of one per cent (1 %) of the gross amount
of receipts of premiums from policyholders on all premiums
collected on casualty insurance policies covering property within
the corporate limits of the City of Okeechobee, Florida.
SECTION 3. That the License of excise tax herein levied
shall be }due and payable annually on the first day of March of
each year hereafter.
SECTION 4. This ordinance shall take effect upon its
passage by the City Council and approval l by the Mayor.
PASSED AND ADOPTED this j4 day of December, 1971.
Attest:
APPROVED by me this
President of the City council
day of December, 1971.
r.d
- (L Al i /j7f1t
Mayor, City of Okeechobee, Florida
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