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one hundred dollars ($100.) or at the alternative rate <br />calculated pursuant to formula prescribed in Section 58-514.2, <br />Code of Virginia, 1950, as amended, whichever rate generates the <br />most revenue. ---~ <br /> <br />Tax on Machinery and Tools: <br /> <br /> The tax on machinery and tools used in a <br />manufacturing or mining business for the City of Portsmouth, <br />Virginia, shall be one dollar and seventy-five cents ($1175) <br />on each one hundred dollars ($100.) assessed valuation thereof. <br /> <br />5. Certified Pollution Control Equipment: <br /> <br /> (a) Certified pollution control equipment, <br />facilities, and property as defined herein, are hereby declared <br />to be a separate class of property and shall constitute a <br />classification for local taxation separate from other such <br />classification of real or personal property and as such shall be <br />exempt from local taxation. <br /> <br /> (b) As used in this ordinance the term "certified <br />pollution control equipment, facilities, and property" shall <br />be deemed to mean any property, including real or personal <br />property, equipment, facilities, or devices, used primarily <br />for the purpose of abating or preventing pollution of the <br />atmosphere or waters of the Commonwealth and which the State <br />Certifying Authority having jurisdiction with respect to <br />such property has certified to the Department of Taxation <br />as having been const~ucted, reconstructed, erected, or acquired <br />in conformity with the State program or requirements for abate- <br />ment or control of water or atmospheric pollution or contami- <br />nation. <br /> <br /> As used in this ordinance, the term "State Certifying <br />Authority" shall be deemed to mean the Water Control Board <br />for water pollution, and the State Air Pollution Control <br />Board for air pollution, and shall include any interstate <br />agency authorized to act in place of a certifying authority <br />of the State. <br /> <br /> II. That the current tax rates on real estate, tangible <br />personal property, and machinery and tools established herein <br />may be changed during the fiscal year. <br /> <br />III. This Ordinance shall take effect from July 1~ 1982. <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia, <br />at a meeting held May 11, 1982. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />