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< <br /> or occasional sale. <br /> 3 . TAX IMPOSED. Except as provided in Section 4 of this <br /> chapter, a tax is hereby imposed upon every purchaser of any item <br /> or article of tangible personal property by means of a sale at <br /> retail within the City, and every purchaser of any item or <br /> article of tangible personal property by means of a sale at <br /> retail within the City shall be liable to the City for a tax on <br /> the purchase of any such item or article , at the rate of one <br /> percent (1�) of the initial Five Hundred Dollars ($500.00) of the <br /> selling price of such item or article of tangible personal <br /> property. No tax shall be imposed upon that portion of the <br /> selling price of any single item or article of tangible personal <br /> property, as evidenced by the receipts, which exceeds Five <br /> Hundred Dollars ($500. 00) . The imposition of this tax on the <br /> initial Five Hundred Dollars ($500.00) of the selling price is <br /> limited to the selling price of each individual item or article <br /> of tangible personal property within any single transaction <br /> involving a sale at retail and is not applicable to the total <br /> selling price of multiple items or articles within any such <br /> single transaction, whether such items or articles are of like <br /> kind and character or not. <br /> For the purchase of tangible personal property to be taxable <br /> under this chapter, the tangible personal property must have been <br /> purchased from a retailer. <br /> The tax imposed hereunder and obligation to pay the same is <br />