For the privilege of selling tangible personal property at retail, a tax is hereby imposed upon all retailers in the incorporated territory of the City at the rate of one-quarter of one (.25%) percent of the gross receipts of any retailer from the sale of all tangible personal property sold at retail in said territory on and after the operative date of an ordinance, adopted by a vote of two-thirds (2/3) of the members of the City Council, declaring that this subsection 3-6.22 shall become effective and shall replace subsection 3-6.5 hereof. “Operative date,” as used in this section, shall mean the first day of the first calendar quarter commencing more than one hundred twenty (120) days after adoption of such ordinance. (Ord. #56-94, S22)