A franchise tax is hereby levied and imposed for the period(s) designated in Section 2-2085 of this article upon the electric power companies engaged in the business of furnishing electricity, electric lights, current, or power within the corporate limits of the town. The tax shall by 3.09% of the companies’ taxable gross receipts from the business of furnishing electricity, electric lights, current, or power within the corporate limits of the town. It isintended that taxable gross receipts hereunder shall be the same as those taxable under the State Franchise Tax Act. (Ord. of 6/3/02)