There is levied and shall be collected a leasehold excise tax on and after January 1, 1976, upon the act or privilege of occupying or using publicly owned real or personal property within the cities of Poulsbo and Bainbridge Island, respectively, through a “leasehold interest” as defined by Section 2, Chapter 61, Laws of 1975-76, Second Extraordinary Session, codified as RCW 82.29A.020, (hereafter “the state act”). The tax shall be paid, collected, and remitted to the Department of Revenue of the state at the time and in the manner prescribed by Section 5 of the state act. (Ord. 76-06 § 1, 1976)