Section 17
SEC. 17. In consideration of the franchise and rights hereby granted, and any provision of law to the contrary notwithstanding, the grantee shall pay the same taxes as are now or may hereafter be required by law from other individuals, co-partnerships, private or quasi-public associations, corporations, or joint stock companies, on real estate buildings and other personal property. In consideration of the franchise and rights hereby granted, the grantee shall pay a franchise tax equal to five per centum of the gross earnings under this franchise three per centum of which shall accrue to the National Government and two per centum to the municipality where the franchise is being operated.