A person exercising privileges taxable under the other sections of Section 749.31, producing coal, oil, natural gas, minerals, timber or other natural resource products, the production of which is taxable under Section 749.31(a), and using or consuming the same in his business shall be deemed to be engaged in the business of mining and producing coal, oil, natural gas, minerals, timber or other natural resource products for sale, profit or commercial use and shall be required to make returns on account of the production of the business showing the gross proceeds or equivalent in accordance with uniform and equitable rules responding as nearly as possible to the gross proceeds from the sale of similar products of like quality or character by other taxpayers, which rules the city recorder shall prescribe.
(6-27-77)