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<br />Sec. 5-137. HEPOETING REQUIREMENTS. <br /> <br />Subdivision 1. GROSS RECEIPTS. Each organization <br />licensed to operate gambling devices shall keep records of its <br />gross receipts, expenses and profits for each single gathering <br />or occasion shall be documented with receipts or other records <br />indicating the amount, a description of the purchased item or <br />service or other reason for the deduction, and the recipient. <br />The distribution of profits shall be itemized as to payee, <br />purpose, amount, and date of payment. <br /> <br />Subd. 2. SEPARATION OF FUNDS. Gross receipts from the <br />operation of gambling devices and the conduct of raffles shall <br />be segregated from other revenues of the organization, and placed <br />in a separate account. Each organization shall have separate <br />records of its gambling operation. The person who accounts for <br />gross receipts, expenses and profits from the operation of <br />gambling devices or the conduct of raffles may be the same person <br />who accounts for, other revenues of the organization. <br /> <br />Subd. 3. MONTHLY REPORTS. Each organization licensed <br />to operate gambling devices or to conduct raffles shall report <br />montly to its membership, and to the City Clerk, its gross <br />receipts, expenses and profits from gambling devices or raffles, <br />and the distribution of profits. The licensee shall preserve <br />such records for three years. <br /> <br />Sec. 5-138. ELIGIBLE PREMISES. Gambling devices shall be <br />operated and raffles conducted by a licensed organization only <br />upon premises which it owns or leases except that tickets for <br />raffles conducted in accordance with State Statutues and this <br />Ordinance may be sold off the premises. Leases shall be in <br />writing and shall be for a term of at least twelve (12) months. <br />No lease shall provide that rental payments be based on a <br />percentage of receipts. A copy of the lease shall be filed <br />with the City Clerk. <br /> <br />Sec. 5-139. TOTAL PRIZES. Total prizes from the operation <br />of padd1ewheels, tipboards and pull-tabs (or ticket jars) awarde <br />in any single day in which they are operated shall not exceed <br />$1,000. Total prizes resulting from any single spin of a <br />paddlewheel, or from any single seal of a tipboard, each tipboard <br />limited to a single seal or from a single pull-tab (or ticket jar), <br />shall not exceed $150. Total prizes awarded in any calendar year <br />by any organization from the operation of paddlewheels, tipboards <br />and pull-tabs (or ticket jars) and the conduct of raffles shall <br />not exceed $35,000. Merchandise prizes shall be valued at fair <br />market retail value. <br /> <br />Sec. 5-140. BINGO. Nothing in this ordinance shall be <br />construed to authorize the conduct of bingo without acquiring a <br />separate bingo license. <br /> <br />Sec. 5-141. PENALTIES. Violation of any provision of this <br />ordinance shall be a misdemeanor. <br /> <br />subdivision 1. SUSPENSION AND REVOCATION. Any license <br />may be suspended or revoked for any violation of this ordinance. <br />A license shall not be suspended or revoked until the procedural <br />requirements of Subdivision 2 have been complied with, provided <br />that in cases where probable cause exists as to an ordinance <br />violation, the City may temporarily suspend the license for a <br />period of up to two (2) weeks upon service of notice of the <br />hearing provided for in Subdivision 2. <br /> <br />-3- <br />