Any public utility charged with the tax imposed by Section 789.02 which pays a franchise tax or which furnishes service to the City under the terms of any franchise heretofore granted it shall be entitled to a credit for such payment or for the value of such service against the amount found to be due from it upon the tax imposed by Section 789.02. The amount of the credit shall not exceed 41/100 of one percent (.41%) of the gross revenue derived by the utility from business done by it within the City.
(Ord. 2071. Passed 8-25-53.)