A. 1991 Calendar Year Rates. Effective January 1, 1991, the business license tax rates shall be those rates detailed in the master tax schedule, CVMC 5.07.030, in the column thereof labeled “Tax Rate: 1/1/91 – 12/31/91.”

B. 1992 Calendar Year Rates. Effective January 1, 1992, the business license tax rates shall be those rates detailed in the master tax schedule, CVMC 5.07.030, in the column thereof labeled “Tax Rate: 1/1/92 – 12/31/92.”

C. 1993 Calendar Year Rates. Effective January 1, 1993, the business license tax rates shall be those rates detailed in the master tax schedule, CVMC 5.07.030, in the column thereof labeled “Tax Rate: 1/1/93 – 12/31/93.”

D. 1994 and Subsequent Calendar Year Rates. Effective January 1, 1994, and for each calendar year thereafter, all tax rates for the categories of taxpayers detailed in the master tax schedule, including both base tax rates and add-on tax rates (e.g., rates per Person, per machine, etc.), shall be increased by six percent per year above the tax rates and add-on rates applicable in the preceding year.

E. Power to Abate in 1992 and Thereafter to 1991 Floor. Notwithstanding anything else to the contrary in this section contained, commencing for the 1992 calendar year and continuing thereafter, the City Council is hereby authorized for no more than one calendar year, but is not required, to lower the tax imposed by this section but to no less than taxes imposed in the 1991 calendar year.

F. Procedure to Abate. To lower the tax authorized by this section, the City Council shall conduct a public hearing at which it publicly deliberates on the advisability of doing so; notice of which public hearing is published in a newspaper of general circulation at least twice, not sooner than 20 days and not later than five days prior thereto, of its intent to deliberate upon said matter. Failure to publish notice of the public hearing, as herein required, shall not affect the right of the City Council to conduct the public hearing and to reduce the authorized annual rate of increase as herein imposed.

G. Nothing contained in this section shall affect the effective date of the ordinance codified in this chapter. (Ord. 2652A § 1, 1995; Ord. 2652 § 1, 1995; Ord. 2408 § 1, 1990).