Ordinance 159 Excise Tax on Property Insurance Premiums for Firemens' Pension Trust Fund
ORDINANCE N0. 159-67
n
i
AN ORDINANCE OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, ASSESSING AND
IMPOSING A TWO PERCENT EXCISE TAX ON PROPERTY INSURANCE PREMIUMS FOR PAYMENT TO THE
MUNICIPAL FIREMEN'S PENSION TRUST FUND OF THE VILLAGE OF NORTH PALM BEACH.
BE IT ORDAINED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH, FLORIDA:
1. In,a.ccordance with Chapter 175.101, Florida. Statutes, the Village
of North Palm Beach does hereby assess a.nd impose on every insurance company, coxpora-
tion or other insuror now engaged in or carrying on, or who shall hereafter engage
in or carry on, the business of property insurance, as shown by the records of the
State Treasurer in his capacity as State Insurance Commissioner, a.n excise or license
tax in addition to any lawful license or excise tax now levied by the Village of North
Palm Beach amounting to two percent of the gross amount of receipts of premiums from
policyholders on all premiums collected on property insurance policies covering _
property within the corporate limits of the Village of North Palm Beach. In the case
of multiple peril policies with a. single premium for both the property and casualty
coverages in such policies, seventy percent of such premiums shall be used as the
basis for the two percent excise tax referred to herein. Said excise or license tax
shall be pa.ya.ble annually on the first da.y of March of each year after the passage of
this ordinance.
Section 2. All ordinances or parts of ordinances in conflict with this
•
ordinance a.re hereby repealed.
PLACED ON FIRST READING THIS 12 DAY OF SEPTEMBER, 1967. _
PLACED ON SECOND, FINAL READING AND PASSED THIS 26 DAY OF SEPTEMBER, 1967,
/s/ Thomas F. Lewis ---
MAYOR _ -
ATTEST:
/s/ Dolores R. Walker
Vi1la,ge Clerk