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There shall be a tax of fifty cents ($0.50) for every one <br />hundred dollars ($100) of assessed value of privately owned <br />pleasure boats and watercraft used for recreational purposes <br />only and registered in the City of Portsmouth as provided in <br />Section 58.1-3506(10), Code of Virginia. <br /> 4. That Paragraph 4 of Ordinance No. 1985-39, as <br />amended and re-enacted by Ordinances No. 1986-44, 1987-37 and <br />1988-38, is amended and reordained to read as follows: <br /> ~ax on Machinery and Tools: <br /> The tax on machinery and tools used in a manufacturing, <br /> mining, processing or reprocessing, radio or television <br /> broadcasting, dairy, or laundry business in the City of <br /> Portsmouth, Virginia, shall be two dollars $(2.00) on each one <br /> hundred dollars ($100) assessed valuation thereof. <br /> 5. This ordinance shall take effect July 1, 1989. <br /> Adopted by the Council of the City of Portsmouth, <br /> Virginia, at a meeting held May 15, 1989. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />