Pursuant to the Municipal Gross Receipts Tax Act; Sections 14-61-1 to 14-61-8, New Mexico Statutes Annotated, 1953, which authorizes municipalities to enact a municipal gross receipts tax, it is declared that the purpose and intent of the governing body of the city of Clovis is to enact an ordinance imposing a gross receipts tax of one-fourth of one percent in compliance with the Municipal Gross Receipts Tax Act. It is further declared that the purpose and intent of this chapter is to conform to the definitions and applicable gross receipts tax provisions of the New Mexico Gross Receipts and Compensating Tax Act and any interpretation of this chapter should be in conformity with the applicable sections of the Gross Receipts and Compensating Tax Act. (Ord. 1101-78 § 2, 1978).