(a) A seven (7) per cent in lieu of gross receipts tax payment shall be charged on customer bills for water, electricity and private street and outdoor area lighting. Such in lieu of tax payment shall be applied by the water and light department to monthly bills for the above services as follows:

    (1)    For water, the amount of the customer's bill as determined by the applicable rate, excluding any other taxes, multiplied by 1.075268.

    (2)    For electricity, the amount of the customer's bill as determined by the applicable rate, including all adjustments but excluding any other taxes, multiplied by 1.075268.

    (3)    For private street and outdoor lighting service, the amount of the customer's bill excluding any other taxes, multiplied by 1.075268.

    (b) Sales tax, when applicable, shall be applied to the entire amounts as computed above.

(Code 1964, § 15.645)