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With respect to organizations exempt from payment of the bank and corporation tax by § 23701(d) of the Revenue and Taxation Code, all profits derived from a bingo game shall be kept in a special fund or account and shall not be commingled with any other fund or account. Such profits shall be used only for charitable purposes. With respect to other organizations authorized to conduct bingo games pursuant to this chapter, all proceeds derived from a bingo game shall be kept in a special fund or account and shall not be commingled with any other fund or account. Proceeds are the receipts of bingo games conducted by organizations not exempt from the payment of bank and corporation tax by § 23701(d) of the Revenue and Taxation Code. Such proceeds shall be used only for charitable purposes, except as follows:

(a) Such proceeds may be used for prizes.

(b) A portion of such proceeds, not to exceed twenty percent (20%) of the proceeds after the deduction for prizes, or One Thousand Dollars ($1,000.00) per month, whichever is less, may be used for rental or property, overhead, administrative expenses, security equipment and security personnel.

(c) Such proceeds may be used to pay license fees. (Ord. 1180, § 10, 11/8/1977; Ord. 1708, § 2, 10/1/1985)