There are levied upon, and shall be collected from, the persons on account of the business activities annual license fees or occupation taxes in the amounts to be determined by the application of the rates against gross income, as follows:

Upon every person or company engaged in or carrying on a telephone business, electrical power business, water utility business, sewer utility business, storm drainage utility business, and a business for furnishing natural gas, a fee or tax equal to five percent of the total gross income from such businesses in the city and city utility businesses operating outside the city during his or its fiscal year next preceding the tax year for which the license is required. (Ord. 549 § 1, 1989; Ord. 436 § 1, 1983; Ord. 408 § 1, 1982; Ord. 129 § 5, 1970).