A franchise tax of 3% of gross subscriber revenues is hereby imposed upon the conduct of any cable television system within the Town of Garfield. The Town reserves the right to increase such franchise tax to not more than 5% of gross subscriber revenues if lawfully permitted under State or Federal laws, rules, or regulations. Any change in this tax rate or the revenues upon which such tax is based shall be by Chapter. (Ord. 138-N, §2, 1983)