(A) Tax imposed. There is imposed on any electric utility company providing electric service within the city not under franchise, a special tax as prescribed by the Constitution of the commonwealth, § 181, the purpose of which tax shall not be for control or regulation of said utility.
(Prior Code, § 5.12.010)
(B) Rate. The rate of the tax provided by division (A) above is fixed at an amount equal to 3% of the gross revenue received by said electric utility from its ratepayers of all classifications within the city limits on and after 1-1-1962, payable quarterly not more than 30 days following the end of each calendar quarter.
(Prior Code, § 5.12.020)
(C) Purpose. The purpose for which this tax is levied is to provide revenue for the General Fund of the city and the revenue therefrom shall be expended only for purposes covered by the proper use of said General Fund.
(Prior Code, § 5.12.030)
(Ord. passed 12-29-1961)