There is hereby assessed a franchise fee for the distribution of electricity for sale in an amount equal to 15% of the gross receipts derived from the business of distributing and selling electricity. Payments shall be made in monthly payments. Each monthly payment shall be due 15 days immediately following the termination of each month. The franchise fee paid under the provisions of this section shall be credited to the General Fund of the city.
(Ord. 714, passed 4-7-2021)