Pursuant to the authority of N.J.S.A. 5:5-48, as amended, there is hereby
established an admissions tax of $0.05 per person for every paid admission,
as defined within said statute, for persons admitted to horse race meetings
by licensed permit holders within the limits of the Borough.
The admissions tax authorized by N.J.S.A. 5:5-48 and implemented by
this article shall be imposed at every race meeting held within
this Borough subsequent to the adoption of this article and shall remain in
effect until repealed by this governing body.
It shall be the responsibility of the permit holder to make payment
of the admission tax receipts provided for in this article to the State Treasurer
for his distribution as provided by law, and said payments shall be made at
the same time the permit holder makes payments to the New Jersey Racing Commission
pursuant to N.J.S.A. 5:5-66.