(A) Ten percent of net profits. A licensed organization must contribute from its net profits, as defined in M.S. § 349.213, derived from lawful gambling activities conducted within the city, 10% per year thereof to a fund hereby established, administered and regulated by the city, without cost to such fund, for disbursement by the city for all lawful purposes.
(B) Fifty percent of gross profits. In addition to the contribution required by division (A) above, a licensed organization must expend not less than 50% per year of its gross profits derived from lawful gambling activities conducted within the city on lawful purposes conducted or located within the City of Mayer trade area. The City of Mayer’s trade area is defined as the City of Mayer, Camden Township, Hollywood Township, Watertown Township and Waconia Township.
(Ord. 104, passed 3-18-02)
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