Any grantee granted a franchise under this chapter shall pay to the City, during the life of such franchise, and at times hereinafter specified in this chapter, a sum equal to three (3) percent of the monthly total gross subscriber receipts of the grantee, or such other sum as the City Council may establish from time to time. Such payment by the grantee to the City shall be in lieu of any occupation tax, license tax, or similar levy but shall not excuse the grantee from obtaining said business license or other permit required by law. Such payment by the grantee to the City shall be made monthly, or as otherwise provided in the grantee’s franchise, by delivery of the same to the City Clerk.

The grantee shall file with the City, within thirty (30) days after the expiration of each calendar year or portion thereof during which such franchise is in force, a financial statement prepared by a certified public accountant showing in detail the total gross subscriber receipts of the grantee, its successors or assigns during the preceding calendar year or portion thereof. It shall be the duty of the grantee to pay to the City, within fifteen (15) days after the time for filing such statement, any unpaid balance for the calendar year covered by such statement. In any month or portion thereof commencing with the beginning of the first year following the effective date of said franchise during which payments under this section amount to less than one hundred dollars ($100.00) per month, the grantee shall pay the City as a minimum an amount equal to one hundred dollars ($100.00) per month.

The City shall have the right to inspect the grantee’s books, records, and accounts showing the gross subscriber receipts from which its franchise payments are computed, and the right of audit and recomputation of any and all amounts paid under this chapter. No acceptance of any payment shall be construed as a release or as an accord and satisfaction of any claim the City may have for further or additional sums payable under this chapter or for the performance of any other obligation under this chapter.

In the event of any holding over after expiration or other termination of any franchise granted under this chapter without the consent of the City, the grantee shall pay to the City reasonable damages as may be provided by law, the same to be in addition to any other legal remedies the City may have. (Ord. 1030 § 2(4), 2018; Ord. 549 § 1 (part), 1976)