(1) The tax collected under this chapter shall be deemed held in trust until paid to the Director of Finance. Should a person required to collect the admissions tax fail either to collect or remit the tax, the City shall have a similar claim for the amount of the tax, plus interest as provided in this chapter, against the proceeds of admissions charges received by such person.

(2) Unless for a special event, or in a particular case, the Director of Finance directs or authorizes a different procedure, each person required to collect the admissions tax must file a tax return accompanied by remittance of the tax due bimonthly, by the fifteenth day of the month next following the end of each bimonthly reporting period. The Director of Finance shall prescribe the form and content of such tax returns. Whenever it reasonably appears the collection of taxes due is in jeopardy, the Director of Finance, after notice to the person collecting the tax, is authorized to require reporting and payment of taxes due at any interval other than bimonthly as the Director of Finance shall deem appropriate under the circumstances. Bimonthly reporting periods are as follows: January-February; March-April; May-June; July-August; September-October; and November-December. Corresponding admissions tax due dates are March 15th, May 15th, July 15th, September 15th, November 15th and January 15th. Those responsible for special events for which admission is charged shall file a tax return accompanied by remittance of admissions tax within 10 business days of the conclusion of the event.

(3) Not by way of limiting the Director of Finance’s discretion to regulate the remittance of the tax under this chapter, the Director of Finance is specifically authorized to require verified annual tax returns and to require the immediate remittance of the tax on admissions to a single event or series of events of a temporary or transitory nature.

(4) Payment or remittance of the tax collected may be made by check, unless payment or remittance is otherwise required by the Director of Finance, but payment by check shall not relieve the person collecting the tax from liability for payment and remittance of the tax to the City unless the check is honored and is in the full and correct amount.

(5) The Director of Finance may, after giving notice to the person collecting the tax, require the placement of taxes collected in a trust account at an approved local depository bank. The taxes collected shall be held in said trust account until payment to the City is made. The Director of Finance shall have such authority when he deems a trust account is necessary to insure payment of the taxes collected to the City. [Ord. 3764 § 1, 2006; Ord. 3557 § 8, 2002; Ord. 3437 § 2, 2000; Code 1970 § 3.02.090.]