The tax authorized to be levied under this chapter shall be levied at the time this chapter shall take effect, August 5, 1980, and shall apply to all persons, firms, associations or corporations engaged in the business of furnishing power, light or electricity in the city, except it shall not apply to any person, firm, association or corporation operating under a valid franchise from the city, and this exception is so stated therein. (Ord. No. 239, 8/5/80)