§ 6-239. Payment; records of wholesalers; bond.

(a)

The excise taxes imposed by this article shall be paid by the wholesale dealers to the city clerk by the tenth of each month based upon the units of malt beverages and wine sold during the previous month. Interest shall accrue on late payments at the rate of nine percent per annum.

(b)

The wholesale dealers shall keep true and correct records of all sales and shipments, and shall render a sworn statement of the sales and shipments accompanying the monthly report to the city clerk.

(c)

Wholesalers shall post a performance bond with the city clerk equal to 1½ times the estimated highest monthly payment made in a calendar year of the prorated license fees based on sales collected by wholesalers from the retailers, to secure payment for the taxes imposed in this article. The bond provided for in this section shall be secured by cash, which shall bear no interest, or a surety bond executed by a surety company licensed to do business in this state and approved by the mayor or city clerk.

(d)

Each wholesale dealer licensed to do business in the city shall submit his books and records for such audit thereof as may be requested by the mayor or city clerk at any reasonable time during business hours.

(Code 1982, § 3-4-2(e)—(h))