Res11 15128 rescinded by 15134 - Laserfiche WebLink

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06/27/2011 Attachment A SECTION 32.155 -- MAXIMUM TAX Notwithstanding anything to the contrary contained in this Article, the annual business license tax payable for any one business shall not exceed: $ 3,535 effective July 1, 2012; $ 4,124 effective July 1, 2013; and $ 4,811 effective July 1, 2014. SECTION 32.156 -- AUTOMATIC ADJUSTMENT Commencing July 1, 2015 and on each subsequent July 1, each rate set forth in this Division (including the maximum rate set forth in Section 32.155) shall automatically adjust according to the following formula: [Current CPI] [New Rate] = [July 1, 2014 Rate] * [2014 CPI] Where the "CPI" for a year is 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 February of that year. In no event shall any rate be reduced below the rate in effect immediately prior to the applicable adjustment. In the event the CPI is no longer published, the City Manager shall select a price index most nearly conforming to the CPI. Section 2. This Ordinance amending Division 6 of Article V of Chapter 32 of the Redwood City Municipal Code shall be in full force and effect ten (10) days after the date on which the City Council has approved the canvass of votes and declared that the voters of the City of Redwood City have approved said Ordinance by a vote of no less than a majority of the votes cast by the electors voting on the tax measure set forth in this Ordinance at the general municipal election to be held on Tuesday, November 8, 2011. The effective date for purposes of levying the increased tax shall be July 1, 2012. Section 3. The City Clerk shall publish this Ordinance in accordance with the provisions of the City Charter. Mayor ATTEST: City Clerk APPROVED AS TO FORM City Attorney ATTY /ORD /ORD.349 /RC BLT ORD ATTACHMENT A RESO. # 15128 062111 3 MUFF #307