A. The tax collected under LMC 3.44.050 is held in trust until paid to the City Finance Department. 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.

B. Unless in a particular case the City Manager or designee 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 City Manager prescribes the form and content of the tax returns. Whenever it appears that the collection of taxes due is in jeopardy, the City Manager, 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 City Manager shall deem appropriate under the circumstances. For the purposes of this chapter, “City Manager” refers to the City Manager for the City or designee.

C. Not by way of limiting the City Manager’s discretion to regulate the remittance of the tax under this chapter, the City Manager 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 a temporary or transitory nature.

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

E. The City Manager may, after 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 Department. The City Manager shall have such authority to deem when a trust account is necessary to insure payment of the taxes collected to the City. [Ord. 167 § 1, 1998.]