There shall be imposed an annual fee upon the business of renting residential units as that term is herein defined. The annual fee shall be established by resolution of the City Council. Residential rental property shall be deemed to be operated/rented and subject to the provisions of this Chapter if any unit within the property has been occupied by the tenant within the prior twelve (12) months. (Ord. 5-2011, 2011; Ord. 10-2003, 2003; Ord. 1-1977 § 2, 1977.)