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<br />sale was exempted by reason of such idFntity, or the nature rf tr.e transaction <br />if exempted for any other reason. Such reccrds and other documents shall be <br />opened during business hours to the inspection of the Director of Fi.nance of <br />North Olmsted and shall be preserved for a period of four years, unless the <br />Director of Finance, in writing, consents to their destruction within that <br />period, or by order requires that they be kept longer. <br />745.06 Returns Reauired; Procedure; Forfeit_for_Fai_l_ure to_ File <br />Each vendor shall, on ar before the twentieth day cf each month, make <br />and file an excise tax return of the prer.edinq month, on forms prescribed by <br />the Director of Finance, showing the receipts from furnishing lodging, the <br />amount af tau due from the vendor to the City for the period covered by the <br />return and such other information as the Director of Finance believes neces- <br />sary for the proper administration of this chapter. The Director of Finance <br />may extend the time for makinq and filing returns. Returns shall be filed by <br />mailing them to the Director of Finance, together with payment of the amount <br />of tax shown to be due thereon. <br />The Director of Finance may authorize vendors whose tax liability is not <br />such as to merit monthly returns, as determined by the Director of Finance <br />upon the basis of administrative costs to the City, to make and file returns <br />at less frequent intervals. Such authorization shall be in writing and shall <br />indicate the intervals at which returns are to be filed. <br />The Director of finance shail stamp or otherwise mark on each return the <br />date it is received by him and shall also show thereon by stamp or ctherwise <br />the amount of payment received with the return. Any vendor who fails to file <br />a return under this chapter shall, for each day he so fai.ls, forfeit and pay <br />into the City Treasury the sum of one dollar ($1.00). <br />'"he Director of Finance, if he deems it necessary ?n order to insure the <br />payment of the tax imposed by this chapter, may require returns and payments <br />to be made for other than monthly periods. The returns shall be signed by the <br />vendor or his authorized agent. <br />745.07 Liability_ofVendor; Assessment,___Peti`ion for_Reassessmentl <br />Penalties <br />If any vendor collects the tax imposed by or pursuant `o *his chapter <br />and fails ta remit tr.e tax tc the City as prescribed, he shall be personally <br />liable for any amount colliected which he failed to remit. The Director of <br />Finance may make an assessment against the vendor based upon any information <br />in the Director of Finance's possession. <br />if any vendor fa?ls to collect the tax or any transient guest fails to <br />pay the tax imposed by o: pizrsuant to this chapter on any transaction subject <br />3