§ 42-236. Percentage of gross receipts.

(a)

Any cable television bingo operator and any charitable sales outlet shall remit the amount of 2½ percent of all quarterly gross revenues from the sale only of shares, tickets, or rights to participate in cable television bingo games received by the cable television bingo operator and/or charitable sales outlets to the city for regulatory expenses and, if the operator is not a nonprofit entity, to the New Orleans Public Benefit Fund, 20 percent of all quarterly gross revenues from the sale only of shares, tickets, or rights to participate in cable television bingo games received by the cable television bingo operator and/or charitable sales outlets less and except the amount paid to the city for regulatory expenses and the amount paid or to be paid to other regulatory agencies including but not limited to the state police charitable gaming division for the quarter for regulation of cable television operations. The gross revenues of a combination of charitable sales outlets associated with any cable television bingo operator shall be combined for the purposes of determining gross revenues. Each charitable sales outlet shall remit an amount proportionate to the gross revenues derived by the individual charitable sales outlet as that amount relates to the total gross revenue of all charitable sales outlets associated with a cable television bingo operator.

(b)

The 2½ percent regulatory costs imposed by subsection (a) of this section shall not exceed $125,000.00 annually. The percentage imposed by subsection (a) of this section for the New Orleans Public Benefit Fund shall be deposited in a special fund which, pursuant to the provisions of section 6-215 of the charter, is hereby created and shall be known as "The New Orleans Public Benefit Fund" and such fund is established for the purpose of lessening the burdens of government on the city in planning, renovating, constructing, leasing, subleasing, managing and promoting such properties as may be owned, leased, subleased or controlled by the city for the benefit of the general public.

(c)

The fund mentioned in this section is authorized to receive donations from private individuals, corporations and other institutions and entities in the private sector as well as grants from the state or from the federal government or any branch thereof. Upon the availability of grants designed for the purposes expressed herein, the city is authorized to make application for same and to take such other actions as may be necessary and appropriate to obtain such grant.

(1)

The fund hereby created shall be administered by the director of the department of finance and shall be kept in an interest bearing account to the benefit of and to become a part of the fund.

(2)

The fund shall be utilized to finance the operations and activities of a public benefit corporation created and chartered by the mayor pursuant to R.S. 41:1212(G) and (H), R.S. 41:1215(B) and R.S. 12:201—12:269, particularly R.S. 12:202.1(D) thereof, and which shall be known as New Orleans Public Benefit Corporation (NOPBC).

(3)

The NOPBC shall annually submit a budget to the director of the department of finance setting forth its needs for the ensuing year at the same time as the various departments of the city. The initial budget, subject to the approval of the chief administrative officer, shall be exempted from the foregoing requirement.

(4)

After the approval of the NOPBC budget by the chief administrative officer, the director of the department of finance shall be authorized to remit funds to NOPBC in accordance with the approved budget upon the warrant of the treasurer of NOPBC. Upon a need to amend the approved budget, such amendment shall be subject to the approval of the chief administrative officer.

(5)

Such fund shall be subject to an annual audit by an independent certified accountant.

(Code 1956, § 14-71(b), (c))