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DRAFT <br /> <br /> <br />354701v2 MJM MU125-65 <br />6 <br /> <br />518.11: CONTRIBUTION OF NET PROFITS TO FUND ADMINISTERED BY <br /> CITY: <br /> <br />Subd. 1. Each organization licensed to conduct lawful gambling within the City pursuant <br />to Minnesota Statutes, Section 349.16, as it may be amended from time to time, shall contribute <br />ten (10) percent of its net profits derived from lawful gambling in the City to a fund administered <br />and regulated by the City without cost to the fund. <br /> <br />Subd. 2. Payment under this section shall be made annually on or before March 1 for the <br />prior calendar year, and shall be submitted together with verifiable supporting documentation. <br /> <br />Subd. 3. The City shall disburse the funds for charitable contributions as defined by <br />Minnesota Statutes Section 349.12, Subdivision 7a, as it may be amended from time to time. <br /> <br />518.12: DESIGNATED TRADE AREA: <br /> <br />Subd. 1. Each organization licensed to conduct gambling within the City shall expend one <br />hundred percent of its lawful purpose expenditures on lawful purposes conducted within the <br />City’s Trade Area. <br /> <br />Subd. 2. This section applies only to lawful purpose expenditures of gross profits derived <br />from gambling conducted at a premises within the City’s jurisdiction. <br /> <br />518.13: RECORDS AND REPORTING: <br /> <br />Subd. 1. Organizations conducting lawful gambling shall file with the clerk-administer one <br />copy of all records and reports required to be filed with the Board, pursuant to Minnesota <br />Statutes, Chapter 349, as it may be amended from time to time, and rules adopted pursuant <br />thereto, as they may be amended from time to time. The records and reports shall be filed on or <br />before the day they are required to be filed with the Board. <br /> <br />Subd. 2. Organizations licensed by the Board shall file a report with the City proving <br />compliance with the trade area spending requirements imposed by Section 518.12 (Designated <br />Trade Area). Such report shall be made on a form prescribed by the City and shall be submitted <br />annually and in advance of application for renewal. <br /> <br />518.14: HOURS OF OPERATION: <br /> <br />Lawful gambling shall not be conducted between 1 a.m. (or 2 a.m. if the premises has been <br />approved for the extended bar closing time) and 8 a.m. on any day of the week. <br />