A license tax, solely for revenue purposes, is hereby imposed upon and shall be collected from every person conducting a racing news agency in the city of Vancouver. The amount of the tax shall be ten thousand dollars for each calendar year or portion thereof, payable in advance to the city treasurer of the city of Vancouver. No person upon whom a license tax is imposed by this chapter shall be required to pay the tax, obtain the license or make the returns required by Chapter 5.04, as amended, with respect to such business. (Ord. C-339, 1950: Ord. C-255 §2, 1949)