(a) There is hereby assessed and imposed on every insurance company, corporation or other insurer now engaged in or carrying on, or who shall hereafter engage in or carry on, the business of insuring property against loss or damage, an excise or license tax amounting to two (2) per cent of the gross amount of receipts of premiums from policyholders on all premiums collected on such insurance policies covering property within the corporate limits of the city. The license tax herein assessed and imposed shall be in addition to all other license taxes now levied by the city.
(b) All money derived from the taxes imposed by this section is hereby appropriated to the fireman's relief and pension fund of the city, which shall be administered in accordance with the provisions of Chapter 175, Florida Statutes, providing for the creation and administration of a firemen's relief and pension fund in certain cities and towns. The excise or license tax herein provided for shall be payable and collected in the manner provided for by Chapter 175, Florida Statutes, providing for the creation and administration of a firemen's pension trust fund in certain cities and towns.
