From and after the effective date hereof, there is hereby levied and assessed an annual tax of 2% upon the gross receipts from residential and commercial sales of natural gas in the town, which tax shall be in lieu of any other franchise, license, occupation or excise tax levied by such town, all as provided by 68 O.S. §§ 2601 through 2605.
(Prior Code, § 7-501) (Ord. 97-3, passed 12-2-1997)