<br><br>91.270 Taxes based on income, licenses and franchises -- Payment and collection -- <br>Disposition of revenue -- Penalty -- Lien. <br>(1) The treasurer and secretary of the sinking fund shall collect all taxes on personal <br>property based on income, licenses and franchises in lieu of an ad valorem tax, and <br>shall pay them monthly to the director of finance, who shall give a receipt therefor. <br>The treasurer and secretary shall furnish monthly to the director of finance a <br>statement showing what persons have, during the previous month, paid such taxes, <br>the amount paid by each, and the total amount paid by him to the director of <br>finance. <br>(2) The revenue derived from taxes based on income, licenses and franchises in lieu of <br>an ad valorem tax shall be paid at such time in the fiscal year, and apportioned and <br>distributed, as may be fixed by ordinance, for the same purposes as the revenue <br>derived from the ad valorem tax. In default of the payment of such taxes at the time <br>fixed by ordinance, a penalty of five percent (5%) shall be added thereto and interest <br>on the amount of such taxes shall be computed and paid by the delinquent from that <br>date at the rate of six percent (6%) per annum until paid. <br>(3) A lien superior to all other liens, except the lien for state taxes, whether such liens <br>were acquired before or after the maturity of the taxes referred to in this section, <br>shall exist in favor of the city from the date the taxes are due, for the amount of the <br>taxes, interest and penalties, upon all the real and personal property of the <br>delinquent taxpayer. The city may enforce the lien by action in the name of the city <br>in the Circuit Court, and in that action may also obtain a personal judgment against <br>the delinquent taxpayer for the tax, penalties, interest, and costs of suit. <br>Effective: October 1, 1942 <br>History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. <br>Stat. secs. 2980, 2984b-1. <br><br>