(A) From and after the approval and acceptance of this franchise, and in consideration of the granting of this franchise, the company agrees to pay and shall pay to the city an annual franchise fee in an amount equal to 3% of its gross revenues arising from the sale of electricity within the corporate limits of the city, such payment to be made on or before July 25 of each year, after deducting therefrom any amount due the company from the city.
(B) The company shall abide by any order, rule, or regulation of the Corporation Commission of the state requiring the listing separately of all or any portion of such franchise fee on electric bills to customers.
(C) Such franchise fees paid by the company to the city shall be in lieu of all other franchise, excise, license, occupation, privilege, inspection, permit, or other fees, taxes, or assessments, except ad valorem taxes.
(Prior Code, Appendix C, Article I, § 7) (Ord. 2013-039, passed 6-3-2013)