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7C ATTACHMENT 1 Page 5 Sec. 32.158. MAXIMUM: Notwithstanding any thing to the contrary contained in this Article, effective July 1, 2010 the annual business license tax payable for anyone business shall not exceed three thousand five hundred thirty five dollars ($3,535.00). The foregoing maximum amount will increase 16.67%) annually commencing upon July 1, 2011 and upon July 1, 2012. Such increases will be rounded to the nearest whole dollar. Thereafter this maximum amount will increase as provided for in Section 32.159. See 32.159. ANNUAL ADJUSTMENTS: Commencing on July 1, 2013, and on each successive July 1 thereafter, the rates and amounts specified in Sections 32.156. 32.157, and 32.158 shall be adjusted by a percentage equal to the percentage change in the Consumer Price Index (CPI) for All Urban Consumers for the San Francisco..Oakland..San Jose Areas published by the United States Department of Labor, Bureau of Labor Statistics, for the twelve (12) month period ending the last day of February of each year. The adjustment shall become effective the next succeeding July 1. In the event this index is no longer published, the Director shall select a price index most nearly conforming to this index. Such increases will be rounded to the nearest whole dollar. Sec. 32.160. INTERACTION WITH PRIOR TAX: Any person who pays the tax levied pursuant Article V, Sections 32.156, 32.157, and 32.159 of this Code with respect to the business license tax shall be deemed to have satisfied his or her obligation to pay the tax levied pursuant to Article V, Sections 32.152 and 32.153 of this Code with respect to that tax. Likewise, prior to July 1, 2010, any person who pays the tax levied pursuant to Article V, Sections 32.152 and 32.153 of this Code with respect to the business license tax shall be deemed to have satisfied his or her obligation to pay the tax levied pursuant to Article V, Sections 32.156 and 32.157 of this Code with respect to that charge. The intent of this paragraph is to prevent the imposition of multiple taxes upon a single payer during the transition period after the effective date of this Ordinance but prior to July 1,2010, the date upon which the increases to the business license tax become effective. [Secs. 32.161--32.190. RESERVED:] SECTION 2. Effective Date. This Article shall become effective immediately upon the date that this Ordinance is confirmed and approved by the voters of Redwood City at the Municipal General Election of November 3,2009. SECTION 3. Severability. If any section, subsection, sentence, clause, phrase, or portion of this Ordinance is for any reason held to be invalid or unenforceable by a court of competent jurisdiction, the remaining portions of this Ordinance shall nonetheless remain in full force and effect. The people hereby declares that they would have adopted each section, subsection, sentence, clause, phrase, or portion of this Ordinance, irrespective of the fact that anyone or more sections, subsections, sentences, clauses, phrases, or portions of this Ordinance be declared invalid or unenforceable. ATTYORD/ORD.320 070109 3