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• <br /> • Subd. B. Lease Required. No eligible organization shall <br /> conduct gambling on any leased premises without a written <br /> lease for a term at least equal to the remainder of the term <br /> of the gambling license of the lessee organization. Lease <br /> payments shall be at a fixed monthly rate, or rate per gambling <br /> occasion, not subject to change during the term of the lease . <br /> No such lease shall provide that rental payments be based on a <br /> percentage of receipts or profits from gambling occasions . <br /> 118-8. PRIZES . The following limitations on prizes shall be <br /> followed: <br /> Total prizes from the operation of paddle wheels and tipboards <br /> awarded in any single day in which they are operated shall not <br /> exceed 5500.00. Total prizes resulting from any single spin <br /> of a paddle wheel or from any single tipboard shall not exceed <br /> n100.00. Total prizes awarded in any calendar year by any <br /> organization shall not exceed $15,000.00. <br /> 118-9 . RECORDS AND REPORTS . <br /> Subd. A. Gross Receipts. Each organization licensed to operate <br /> gambling devices shall keep records of its gross receipts, <br /> expenses and profits for each single gathering or occasion <br /> at which gambling devices are operated or a raffle is conducted. <br /> All deductions from gross receipts for each single gathering <br /> or occasion shall be documented with receipts or other records - <br /> indicating <br /> ecordsindicating the amount, a description of the purchased item or <br /> service or other reason for the deduction, and the receipt. <br /> The distribution of profits shall be itemized as to payee, <br /> purpose, amount, and date of payment. <br /> Subd. B. Separation of Funds. Gross receipts from the operation <br /> of gambling devices and the conduct of raffles shall be segre— <br /> gated from other revenues of the organization, and placed in <br /> a separate account. The person who accounts for gross receipts, <br /> expenses and profits from the operation of gambling devices <br /> or the conduct of raffles shall not be the same person who <br /> accounts for other revenues of the organization. <br /> Subd. C. Monthly Reports. Each organization licensed to <br /> operate gambling devices or to conduct raffles shall report <br /> monthly to its membership, and to the City Clerk, its gross <br /> receipts, expenses and profits from gambling devices or raffles, <br /> and the distribution of profits. The licensee shall preserve <br /> such records for three years . <br /> 118-10. BINGO. Nothing in this ordinance shall be construed <br /> to authorize the conduct of bingo without acquiring a separate bingo <br /> license. <br /> 118-11 . INSPECTION AND INVESTIGATION. Any city offcial or <br /> employee, having a duty to perform with reference to a gambling license, <br /> and any police officer may inspect and examine the gambling records <br /> of any licensed organization upon 24 hours notice. <br />