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AN ORDINANCE IMPOSING ;~ND LEVYING A P~TAIL SALES AND USE TAX FOR THE FISCAL YEAR BEGINNING JUNE 1, 196S ;uND ENDING ~AY 51, 1966, AND ALSO FOR EACH AND EVERY YEAR THEREAFTER BEGINNING WITH Jt~NE 1 OF EACH SUCH YEAR AND ENDING WITH MAY 51 FOLLOWING, UNLESS OTHERWISE (~{ANGBD BY ~{E COUNCIL; PRESCRIBING THE TIME WHEN ~fllE DOING OF CERTAIN ACTS OR THINGS REQUIRED TO BE DONE HEREUNDER, INCLUDING THE COLLEC- TION OF SUCH TAXES, SHALL COMMENCE; PROVIDING FOR CERTAIN EXCEPTIONS; DEFINING CERTAIN TERMS; PROVIDING FOR THE PAYMENT AND COLLECTION OF SUCH TAXES; DEFINING VIOLATIONS OF THE PROVISIONS OF THIS ORDINANCE, ~ND PRESCR}BING PENALTIES THEREFOR. WHEREAS, it is necessary that provisions be made to impose and levy the taxes hereinafter set forth,, for the purpose of providing funds for muIlicipal purposes; therefore, BE IT ORDAINED by the Council of the City of Portsmouth: Section 1: - That this Ordinance shall bo known and may be cited as "The City of Portsmouth, Virginia Retail Sales and Use Tax Ordinance". Section 2: - That for the fiscal year beginning June 1, 1965, and ending May 51, 1966, and also for each and every year there- after beginning with June 1 of each such year and ending with May 31 following, unless otherwise changed by the Council, there is hereby levied and imposed, in addition to all other taxes and fees of every kind now imposed by law, a privilege tax upon every person who engages in the business of selling tangible personal property at retail in the Cify of Portsmouth, or who rents or furnishes any of the things or services taxable under this ordinance, or who stores for use or consumption in the City of Portsmouth any item or article of tangible personal property as defined in this Ordinance, or who leases or rents such property within the City of Portsmouth~ the same to be collected in the amount to be deter- mined by the application of the following rates, to-wit: (a) At the rate of two per cent (2%) of the sales price of each item or article of tangible personal property when sold at retail in this City, provided, that the maximum tax imposed or to be collected on the sale price of each item or article of tangible personal property when sold at rptail shall not exceed four dollars 454.00) for any such item or article; the tax to be computed, subject to said proviso, on the gross sal~s for the purpose of remitting the amount of tax due the City and to include each and every retail sale.