A. 
Any person to whom a permit has been issued to erect or install a billboard sign or off-premises advertising sign within the corporate limits of the City shall pay license fees as follows:
Initial installation fee: Five hundred dollars ($500.00).
Annual license fee: Two percent (2%) of gross annual revenues produced by the billboard sign or off-premises advertising sign.
B. 
As used in this Section, the term "gross annual revenues" means the aggregate amount of all revenues derived from billboard and off-premises advertising signs in the City during a calendar year.
C. 
All persons engaged in the business of maintaining billboard and off-premises advertising signs in the City are hereby required to file with the Finance Director a sworn statement showing the gross annual revenues of such business during the preceding year within the City by March fifteenth (15th) of each year. At the same time the statement is required to be filed, payment of the tax due on the gross annual revenues reported in the statement shall be made to the City at the rate set forth in Subsection (A). In return for the payment the person shall be licensed to operate such business in the City for the period from March sixteenth (16th) of the year in which payment is made through the next March fifteenth (15th).
D. 
The provisions of Sections 605.090 through 605.130 of the Code shall apply to license revocation, collection and enforcement of the tax imposed by this Section, including as to any failure to file the statement due hereunder and/or pay the taxes due hereunder by the due date.