§ 6. [Franchise fee.]

As consideration for the rights and privileges herein granted, the Grantee will pay to the City throughout the term of this franchise a gross receipts tax equal to two percent (2%) of the gross receipts of Grantee from the sale of electricity within and for use within the corporate limits of the City, in semiannual payments, being payments on or before each May 1, computed on said gross receipts during the period of six months ending on the preceding March 31, and on or before November 1, computed on said gross receipts during the period of six months ending on the preceding September 30. In the event Grantee should agree to pay to any other municipality which it serves a greater percentage than two per cent (2%) of its said gross receipts, Grantee will automatically thereafter pay to the City of Uvalde the same percentage of its gross receipts within the City of Uvalde derived from the sale of electric energy.