0350 (Insurers Excise Tax)ORDINANCE NO. 350
AN ORDINANCE LEVYING AND IMPOSING UPON ALL INSURERS,
NOW OR HEREAFTER ENGAGING IN OR CARRYING ON THE BUSINESS
OF PROPERTY INSURANCE, AN EXCISE OR LICENSE TAX IN
ADDITION TO ANY TAX NOW LEVIED, OF 2% OF THE GROSS
AMOUNT OF RECEIPTS OF ALL PREMIUMS COLLECTED ON PROPERTY
INSURANCE POLICIES INSURING THE PROPERTY WITHIN THE
CORPORATE LIMITS OF THE CITY OF OKEECHOBEE; AND PROVIDING
WHEN SAID TAX SHALL BE DUE AND PAYABLE.
WHEREAS, the Legislature of the State of Florida, by Chapter
175, Florida Statutes, created a special fund known as the
"Municipal Firemen's Pension Trust Fund" and thereby authorized
municipalities falling within the purview of said act, to levy an
additional tax upon certain insurance companies or other insurers
against property loss designated in said act. The said proceeds
from said tax to be used in partial support of the Firemen's
Pension Fund, and
WHEREAS, it is the desire of the City of Okeechobee to put
into full force and effect the provisions of said Chapter 175 in
said municipality;
BE IT ORDAINED by the Mayor and City Council of the City of
Okeechobee, Florida:
Section 1. That there is hereby assessed, imposed and levied
on every insurance company, corporation or other insurer now
engaging in or carrying on, or which shall hereafter engage in
or carry on the business of property insurance, as shown by the
records of the Insurance Commissioner of the State of Florida, an
excise or license tax in addition to any license tax or excise tax
now levied by the City of Okeechobee, which said tax shall be
in the amount of two per cent (2 %) of the gross amount of receipts
of premiums from policy - holders on all premiums collected on
property insurance policies covering property within the corporate
limits of the City of Okeechobee.
Section 2. That the license or excise tax herein levied shall
be due and payable annually on the first day of March of each year
hereafter.
Section 3. EFFECTIVE DATE: This Ordinance shall take
effect upon its passage by the City Council and approval by the
Mayor.
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PASSED AND ADOPTED this 11 day of December, 1971.
ATTEST:
City Clerk
TV-
APPROVED by me this P1 day of December, 1971.
President of City Couhcil
Mayor, CitX of Okeechoh e