[Adopted 7-20-1993 by L.L. No. 8-1993]
The purpose of this article is to enable the town to enter into a contract with a banking institution pursuant to which such bank will issue a Town of North Hempstead affinity credit card.
A contract with a banking institution for an affinity credit card authorized by this article may provide for either or both of royalty payments or other types of payments to be made to the town by such banking institution and tax credit payments to be made to the town, representing credits earned by cardholders through purchases with the affinity credit card. Any such tax credit payments shall be applied by the town so as to reduce the amount of town general fund property tax owed by cardholders responsible for paying such tax on real property in the town. Crediting of such tax credit payments shall be done in a manner which complies with the Real Property Tax Law and which avoids any inconsistencies between tax bills sent by the town and the tax warrant and general tax roll issued by Nassau County.