HomeMy WebLinkAbout77-5-1420493
ORDINANCE NO. •77-5-1420
AN ORDINANCE AMENDING SUB -SECTION (b) OF SECTION 17-89.
"INSURANCE COMPANIES", OF THE CODE OF ORDINANCES OF THE CITY OF PADUCAH,
KENTUCKY
BE IT ORDAINED BY THE BOARD OF COMMISSIONERS OF THE CITY OF
PADUCAH, KENTUCKY:
SECTION 1. That sub -section (b) of Section 17-89, "Insurance Companies",
of the Code of Ordinances of the City of Paducah, Kentucky, be amended and reordained
so that said sub -section shall hereinafter read as follows:
(b) Life and Accident Companies, License Tax.
Each life insurance company and each accident insurance
company 2 doing business in the city shall -be rated and. pay
a license tax based upon a percentage of the premiums
received by the insurance dnipany for insurance on
persons residing within the corporate limits of the city
during. the preceding year's business in the city as
follows: If the premiums on such business amount to
less than $166`.67 ,the license tax shall be five -dollars
($5.00); if the premiums on said business are more than
$166:67; three percent (3%) on such premiums shall be
paid".
SECTION 2. This ordinance shall be in full force and effect from and after
the date of its adoption.
Passed by the Board
of Commissioners May
25,
1977
Recorded by Louise
McKinney, City Clerk,
May
25, 1977.
Mayor