3.44.025 ELECTION PURSUANT TO SECTION 19610.3 OF THE BUSINESS AND PROFESSIONS CODE—SAN MATEO COUNTY FAIR ASSOCIATION.
The City elects, pursuant to California Business and Professions Code Section 19610.3 to permanently receive thirty-three one hundredths of one percent of the total parimutuel wagers placed at Bay Meadows Race Track during all thoroughbred and other horse racing meets conducted there by the San Mateo County Fair Association. This election is subject to the following conditions:
(1) This election shall be effective as of August 20, 1984, and that effective as of such date, the City shall not collect its admissions tax from the San Mateo County Fair Association for conducting a racing meet at said track, or from any racing patron;
(2) If for any reason either the election by the San Mateo County Fair Association, or that of the City's, is found not to be effective as of August 20, 1984, or is thereafter at any time found not to be effective, the admissions tax provisions contained in Chapter 3.44 of this code shall be in effect until such time as the City is legally entitled to receive thirty-three one hundredths of one percent of all parimutuel wagers under the provisions of Section 19610.3 of the California Business and Professions Code.