§ 7.02. Power to Tax, Franchise Taxes, Occupation Taxes.

(a)

The city council shall have the power under the provisions of state law to levy, assess, and collect annual tax upon all taxable property within the city not to exceed the maximum provided by the Constitution and general laws of the State of Texas.

(b)

The city council shall have the power annually to levy and collect a street rental charge against any public service corporation, person, or entity holding a franchise for the privilege of the use and occupancy of public streets, alleys, or grounds of the city, separately from the tangible property of such corporations, companies and corporate institutions, as authorized by the state laws, and shall have full power to enforce the collection of such taxes.

(c)

The city council shall have the right to assess and collect such occupation taxes, licenses, and franchise taxes upon trades, professions, occupations, and any business transaction carried on in said city as may be authorized by the general laws of the State of Texas.

(d)

All existing taxes, assessments, and charges of whatever kind or nature heretofore levied by the City of Terrell shall remain in full force and effect until and unless repealed or changed by ordinance.