§ 19-81. Levy; amount.

There is levied on and against each telephone company operating within the city a tax on the occupation and business of maintaining a telephone exchange and lines connected therewith in the city and of supplying local exchange telephone service to the inhabitants of the city. The amount of the tax levied by this division shall be:

(1)

Six dollars ($6.00) per telephone account for which local exchange telephone service is provided on January 1 of each year subsequent to 1979; plus

(2)

A yearly inflationary increase per telephone account which is counted annually under subsection (1) of this section equal to the yearly percentage rise in the telephone component of the Bureau of Labor and Statistics Consumer Price Index for all items, all urban consumers, U.S. city average, based on the standard reference base period as determined by the Bureau of Labor Statistics, U.S. Department of Labor (base year on effective date of division: 1967-100) or any comparable subsequent index with which the Department of Labor may replace the described index; plus

(3)

The administrative cost of determining the telephone component described in subsection (2) of this section.

The amount of the tax shall be determined according to the following formula:

Total Payment = (Z;sub    \sub;) (X;sub    \sub;) + N = ( (Z _i-1 ) (Y;sub    \sub;) + Z _i-1 ) + N

where:

i	=	the number of years past 1979
Y;sub    \sub;	=	the yearly percentage increase in the telephone component of the Consumer Price Index, all cities, all items, all urban consumers
Z;sub    \sub;	=	the total payment per telephone due in any given year
X;sub    \sub;	=	the number of telephones on January 1 of any given year
Z o	=	6
N	=	the administrative cost of determining the telephone component of the Consumer Price Index.

 

For the year 1979 only, the number of telephone accounts will be determined as of June 1 using the formula set forth in this section as if the number of telephone accounts had been determined as of January 1, and all moneys paid to the city under any other agreement based on gross revenues shall be deducted from the total amount due and owing for the year under this division. For every year subsequent to 1979, the number of telephone accounts will be determined as of January 1.

Each payment shall be due by the fifteenth day of the subsequent month for which payment is being made. Payment shall be computed by using the number of telephone accounts being serviced on the fifteenth day of the month for which payment is made.

(Code 1961, § 24B-1; Ord. No. 62-1997, 12-9-97, eff. 12-19-97)