ORDINANCE NO. 96-07

AN ORDINANCE LEVYING AND IMPOSING UPON ALL INSURERS, NOW OR HEREAFTER ENGAGING 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 .85 PERCENT (.85%) OF THE GROSS AMOUNT OF RECEIPTS OF ALL PREMIUMS FROM CASUALTY INSURANCE POLICIES INSURING PROPERTY WITHIN THE MUNICIPAL LIMITS OF THE TOWN OF SHALIMAR, FLORIDA, AND PROVIDING WHEN SAID TAX SHALL BE DUE AND PAYABLE.

WHEREAS, the Legislature of the State of Florida, by Chapter 28230, Laws of Florida, 1953, created a special fund known as the "municipal Police Officers' Retirement Trust Fund" and thereby authorized municipalities falling within the purview of said act, to levy an additional tax upon such insurance carriers designated in said act, the said proceeds from said tax to be used in partial support of said fund; and

WHEREAS, it is the desire of the Town of Shalimar to put into full force and effect the provision of Chapter 28230 in said municipality;

BE IT ORDAINED BY THE TOWN COMMISSION of the Town of Shalimar:

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 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 license tax or excise tax now levied by the Town of Shalimar which said tax shall be in the amount of .85% of the gross amount of receipts of premiums from policy holders on all premiums collected on casualty insurance policies, covering property within the corporate limits of the Town of Shalimar;

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. This ordinance shall take effect immediately upon adoption.

Date of First Reading: March 19, 1996

Date of Second Reading: April 16, 1996