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• AN ORDINANCE TO AMEND AND REORDAIN SECTION 10-43 IN ARTICLE V, CHAPTER 10 OF THE CODE OF THE CITY OF CHARLOTTESVILLE, 1976, RELATING TO THE TAX ON BANK STOCK. BE IT ORDAINED by the Council of the City of Charlottesville; 1. That Section 10-43 in Article V, in Chapter 10 of the Code of the City of Charlottesville, 1976, be amended and reordained as follows: ARTICLE V. BANK STOCK TAX. Section 10-43. Generally. (a) There shall be assessed and levied, pursuant to section 58-476 of the Code of Virginia, for each year, a tax of forty eighty percent of the state rate of taxation of the value of the shares of stock of banks located within the city, as determined pursuant to sections 58-465 to 58-485 of the Code of Virginia. • (b) There shall be assessed and levied, pursuant to section 58-476.1 of the Code of Virginia, on all branch banks within the city of banks whose principal office is located outside the city, a tax of forty eighty percent of the state rate of taxation on such proportion of the taxable value of the shares of stock in such bank as the deposits through the branch or branches so located in the city bear to the total deposits of the bank, as determined pursuant to sections 58-465 to 58-485 of the Code of Virginia. (c) Each bank subject to taxation under this section shall deliver to the commissioner of revenue of the city a copy of the report which such bank is required to furnish pursuant to section 58-465 to 58-485 of the Code of Virginia, and it shall be the duty of the commissioner of revenue to extend the tax hereby imposed against the stockholders of such bank at the rate herein levied. (d) Each bank subject to taxation under this section shall, on and before June 1 in each year, pay to the treasurer of the city the taxes hereby levied and so assessed, and the treasurer of the city shall give to such bank paying such taxes duplicate receipts as prescribed by the department of taxation. It shall be the duty of the city treasurer to collect the tax hereby levied in the manner prescribed by section 58-465 to 58-485 of the Code • of Virginia. 2. This ordinance shall be effective January 1, 1979.