There is hereby levied an annual inspection fee and service charge upon each and every person, firm, or corporation operating a telephone exchange in the Town in an amount equal to two percent (2%) of the gross revenues for each current year for exchange telephone transmission service rendered wholly within the limits of the Town to compensate the town for the expenses incurred and services rendered incident to the exercise of its police power, supervision, police regulations, and police control of lines and equipment of the telephone company in the Town. (2014 Code § 7-401)