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A_~ OP~iNAi'~CE IMPOSING T~J%ES ON S?~EES O~ ST~K OF ~NKS L~TED T~ Ct~~ OF PO~TSMOU~ FOR ~E -~B 1959 AND ~U~L? ~or~smo~t.~, Virginia, that: Be it ordained By the Council of the City of l. ~e word "b~nk", as used in this ordinance, shail have the same meaning as set forth in Section 58-485 o~ the Code of Virginia, 1950, ~, For the year 1959, ~nd annually for each year.thereafter, there is here~ by levied and imposed upon ~n stockholder of every bar2~ located in the C~ of Por~tsmouth m tax at the rate of Forty Cents per ann~m on each one ht~ndred dollars of the taxable value of ~ue sD_ares of stock held by Such stockholder in any such bank. The said zax is levied mhd imposed in ~ccordance ~ith ~an~ pursuan~so the provisions of Eection 58-478 of ~he Code of Virginia, 19~0, and shall be a first lien ~pon the stock standing i~ ~he name of ~ll stockholders and mpon the dividends thereon due and mo become due, and shall have prioriZy over all other liens ~xeep~ th~ lien of t~xss due ~o the Co~on~e~lth of Virginia. 2o For the purpose o~ assessing the taxes herein imposed, each of said baD_ks sha~i deliver to the Ce~miseioner o~ the Revenue of the City of Portsmouth. on or be- fo~e~eb~lary I of each year~ a copy of the repor~ suck bank .is required by !a~ to f~rnish the said Commissioner of ~he Revenue for the purpose of S~a~ ~a~at~on~ 4. Each bank located in ~hls City shatl~ on or beforo the first day of June, -~.~c~° and annually Before the first day of June of each year thereafter, p~y ~o the City Collector of this City the taxes, here~y assessed against the stockholders, and the City Collector shall ~ive to the Dank paying such taxes a duplicate receipt there~ for, as provided by Eection 55-480 of the Code of Virginia, 19~0. 5. The ~axee imposed by this ordinance shall b~ applicable to the stock~ holders of ~ny ~ank ~hieh has a branch bank lo. ted in the City of Portsmouth and shall be paid in accordance ~ith the provisions of Section 5~-48~ of the Code of Vir~lnia~ 1950. 8. Any bank ~hich shall fait or neglect to comply with any of the provisions of this ordinance sh~ii..be limed, not less than fifty .dollars nor more than two hundred do~ars~__ ~at the. p~:ym'~n~c ...... of ~¥ines w~ti not relieve the bank ~rom the oavm~nt of the t~xes imposed by this ordinance.