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On and after July 1, 2008, there is levied upon every person, firm or corporation engaged in carrying on telephone utility business, within or partly within the city limits a tax equal to six percent of gross revenues, including revenues from intrastate tolls derived from the operation of such business within the city. Gross revenues for the purposes of calculating franchise fees shall be as set forth in any franchise agreement. On and after January 1, 2023, the finance director shall allocate one percent of the tax revenue received under this section for the purpose of acquiring, investing in, constructing, improving, providing, operating, preserving, maintaining and/or funding transportation improvements in the city. The remaining five percent levied shall be relegated for use by the city’s general fund. (Ord. 6882 § 4, 2022; Ord. 6790 § 2 (Exh. B), 2020; Ord. 6785 § 4, 2020; Ord. 6170 § 3, 2008; Ord. 5797 § 1, 2003; Ord. 5673 § 2, 2002; Ord. 4185 § 2, 1986. Formerly 5.82.040.)