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firean'ns ammunition as bond or other security for loans, advances or other forms compensation, or (ii� sells or resells firearms or firearms ammunition wholesale to properly lic=zed and registered dealers exclusively. Section Z. Simon 5-I.26 WHOLESALE SALES shall be amended, to read as follows: (a) Every person engaged in the business of selling any goody wares or merchandise at wholesale; and not otherwise specifically taxed by other Business Tax provisions ofthis Article, shall pay a business Tax of S60.00 per year or factional part thereof for the first S50,000 or less of gross receipts, plus SIZO for each additional thousand dollars of gross receipts or fractional part thereof in excess of S50,000; except that any business engaged in the wholesale of firearms or firearms ammunition, as defined inSection 5-I.44 of this Article, shall pay a gross receipts tax of S60 per year or fractional part thereof for the first S2,500 or less of gross receipts, plus S1.4 per year for each additional $1,000 of gross receipts or fractional pan thereof in excess of S2, 500 from wholesaling firearms or firearms ammunition . (b) For :he purpose of this Sections, "a wholesale sale" or "sale at wholesale" means the sale of goods, wares or merchandise for the purpose of resale in the regular course of business. Sermon 3. Section 5-I.49 OPTIONAL .N/=OD OF DETE MINTNG TAX shall be amended to add the following subsection: (3) Each person required to obtain a business tax certificate for engaging in the business of selling dresrns or firearms ammunition under the provisions of Simon 5-1.44 shall not be required to obtain a business tax certificate for activities covered by any other Section of this Article and shall pay tax on gross receipts derived from any activity covered by any Section of this Article at the rate-pre=bed for gross receipts from the sale of firearms or .firearms ammunition. Section 4. The effective date of this Ordinance shall be January 1, 1999. and be it FL'RT= RESOLVED: That in accordance with the EIections Code and Chapter I 1 of the Oakland Municipal Code, the City Cleric shall. fix and determine a date for submission of argumems for or against said proposed charter amendment, and said date shall be posted in the OEce of the City Clerk; and be it FURTHER RESOLVED: That in accordance with the Elections Code and Chapter I I of the Oakland Municipal Code, the City Clerk shall provide for notice and publication as to said proposed ordinance in the manner prodded for by Iaw:,, and be it 89379.1 .9re-I •,