Any such corporation, company or association not incorporated under the laws of the state, which is engaged in the city in effecting fire insurance, shall pay the City Treasurer for the maintenance, use and benefit of the Fire Department of the city, a sum of money equal in amount to 2% per annum of the gross receipts received as premiums upon fire insurance policies by any and all agents of such corporation, company, association during the year ending on July 1 in each year, for any insurance effected or agreed to be effected on property located in the city by or with such corporation, company or association during such year.
(1999 Code, § 36-5-2)