[Adopted 4-13-1970 by Ord. No. 179 (Ch. 125, Art. I of the 1990 Code)]
The Mayor and Council, in the exercise of both their Charter powers and their powers to select subjects of municipal taxation, entirely exempt from valuation, assessment and taxation commercial business inventories so that such exemption of business inventories in the City will conform to the county exemption.
This exemption shall continue from year to year until revoked or modified by formal resolution of the Mayor and Council.