10-23-1991 Council Agenda - Laserfiche WebLink

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OCT -18 -1991 15: 12 FEOFI SdEEI C SOPEP TO L I TTLE— CANADA P. FIT :'0'9 (D) All licensees and permittees in the City shall use a certified public accounting firm for all accounting, bookkeeping and tax preparation services related directly to lawful gambling and charged as an allowable expense of the gambling operation. All agreements providing for such services shall be in writing and shall be submitted to the City as part of the application for review by the City to determine compliance with local and state regulations and laws. Any such agreements entered into or modified after the issuance of a license or permit shall be filed with the City prior to the new agreement or modification becoming effective. (E) The organization shall submit an audit by an independent certified public accountant to the City on an annual basis. The audit shall be delivered to the City on or before thirty (30) days prior to the anniversary of the date of the approval of the premises permit. (F) A premises permit approved by the City under this Ordinance may be suspended by the City for violation of Ordinance or revoked for failure to meet the qualifications set up in Sections 815.020 and 815.025, or for a willful violation of any part of Section 815 of the City's Ordinance, or for a failure to comply, for any reason with any provision, guarantee, or claim made in any applicant's original license application to either the City or the State of Minnesota. (G) No license or permit approved by the City, including any bingo hall license, grants the licensee a property right or entitlement to a license or permit. The City may refuse to issue, renew or may revoke the license or permit for any reason and will not incur liability for any damages including, but not limited to, direct, consequential or incidental damages, deprivation of property, loss of income, loss of profits, or loss of livelihood. 815.030. REQUIRED CONTRIBUTIONS. Each organization conducting lawful gambling within the City shall contribute at least ten (10 %) percent of its net profits derived from lawful gambling in the City to a fund administered and regulated by the City without cost to the fund, for disbursement by the City for lawful purposes as defined by Minn. Stat. §349.12, Subd. 11. The City's use of these funds shall be determined at the time of the adoption of the City's -4- Page 22