HomeMy WebLinkAboutOrd 14981
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ORDINANCE No. 1498
ORDINANCE REQUIRING TRANSIENT OCCUPANCY TAX SECURITY BOND
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The CITY COUNCIL of the CITY OF BURLINGAME does
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hereby ordain as follows:
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Section 1. Section 4.09.070 of the Burlingame Municipal
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Code is hereby amended to read as follows:
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"4.09.070 Reporting and remitting.
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Each operator shall, on or before the last day of each month,
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make a return to the tax administrator, on forms provided by him,
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of the total rents charged and the amount of tax calculated for
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transient occupancies for the preceding month. Unless a separate
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bank account is established as hereinafter set forth, the full
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amount of the tax calculated shall be remitted to the tax
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administrator at the time the return is filed. The tax
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administrator may establish shorter reporting and/or remitting
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periods for any operator and may require additional information in
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any return; such actions of the tax administrator may be appealed
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pursuant to Section 4.09.100. Returns and payments are due
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immediately upon cessation of business for any reason.
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Any operator collecting less than $75,000 in taxes per
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quarter shall deposit such taxes in a separate bank account in
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trust for the benefit of the city, until payment thereof is made
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to the tax administrator. All other operators shall make weekly
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deposits of such taxes into a separate bank account established
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for each operator in the city's bank; such account shall be
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payable only to city, shall be at no cost to the operator, and any
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interest thereon shall accrue to the operator. The tax
1 administrator shall establish procedures for the deposit and
2 withdrawal of funds from such accounts in the city bank. He may
3 require that a bond, as described in the following paragraph, be
4 posted if an operator fails to make timely deposits to its
5 account.
6 . In lieu of such a separate bank account an operator may post
7 a bond guaranteeing payment of taxes, equal to one quarter's tax
8 as determined by the tax administrator. Any such bond must
9 provide for no more than ten days notice of cancellation to city."
10 Section 2. This ordinance relates to taxes for the
11 usual and current expenses of the city and therefore shall take
12 effect immediately upon its adoption.
13 Section 3. This ordinance shall be published as
14 required by law.
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16 Mayor
17 I, JUDITH A. MALFATTI, City Clerk of the City of
18 Burlingame, do hereby certify that the foregoing ordinance was
19 introduced at a regular meeting of the City Council held on the
20 7th day of MARCH , 1994, and adopted thereafter at a
21 regular meeting of the City Council held on the 20th day of
22 JUNE , 19940 by the following vote:
23 AYES: COUNCILMEMBERS: HARRISON, KNIGHT, O'MAHONY, SPINELLI
24 NOES: COUNCILMEMBERS: NONE
25 ABSENT: COUNCILMEMBERS: NO26 l
ABSTAINING: COUNCILMAN PAGLIARO%
27 City Cler
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