There is hereby levied and assessed an annual tax of 2% upon the gross receipts from residential and commercial sales of power, light, heat, gas, electricity, or water in the town, which tax shall be in lieu of any other franchise, license, occupation, or excise tax levied by the town, all as provided by 68 O.S. §§ 2601 et seq.
(Prior Code, § 7-401)
Statutory reference:
Power to levy and assess tax; tax in lieu of other taxes, see 68 O.S. § 2601