From and after the effective date hereof, there is hereby levied and assessed an annual tax of two percent (2%) upon the gross receipts from residential and commercial sales of power, light, heat, gas, electricity or water in the city, which tax shall be in lieu of any other franchise, license, occupation or excise tax levied by the city, all as provided by 68 Oklahoma Statutes sections 2601 through 2605. (Ord. 95-01, 1-31-1995)