(A) The franchise fee paid pursuant to Section 7 shall be paid monthly. Payment for each month shall be made to the City not later than 30 days after the end of each calendar month.
(B) Grantee shall file with the City within 30 days of the end of each calendar month a statement showing gross revenues during the preceding month.
(C) No acceptance by the City of any payment shall be construed as an accord that the amount paid is in fact the correct amount, nor shall such acceptance of such payment be construed as a release of any claim the City may have for additional sums payable or otherwise related to that payment.
(D) In the event that a fee payment is not received by the City on or before the due date set forth in this section or in a franchise, or the fee owed is not fully paid, the person subject to the fee will be charged interest on the outstanding amount owed from the due date at an interest rate equal to the current prime rate published in the Wall Street Journal.
(E) Within 90 days of the date Grantee ceases operations under this Franchise (whether because of franchise termination, transfer, bankruptcy or for any other reason), the Grantee (or its successor in interest) shall: (a) make a final franchise fee payment, covering the period from the end of prior calendar month to date the Grantee ceased operations; and (b) file a final statement of gross revenues covering the period from the beginning of the calendar year in which the operations ceased to the date operations ceased. The statement shall contain the information and be certified as required above.
(Ord. 2-2003)