.010 Each franchisee granted a franchise pursuant to this chapter shall pay a franchise fee to the City during the term of such franchise. The franchise fee shall be in an amount as set forth by resolution adopted by the City Council.
.020 Franchise fees shall be due and payable in a manner and at a time established by the City Council. The first payment of franchise fees shall be due and payable within thirty (30) days of the effective date of the franchise. Thereafter, quarterly payments of the franchise fee shall be due and payable within fifteen (15) days from and after the end of each three-month period during which the franchise is in effect. Each payment shall be calculated in accordance with the provisions of the resolution adopted by the City Council pursuant to this chapter.
.030 The Director shall require franchisees to establish and maintain a deposit to be held by the City from which payments of required franchise fees shall be deducted. The Director of Finance shall deduct the appropriate franchise fee from said deposit and notify the franchisee of said deduction. The failure to maintain such deposit account at the level prescribed shall be deemed a failure to pay the required franchise fees. Interest earned by such deposited funds, if any, shall be credited to the depositor.
.040 The payment of franchise fees to the City by the franchisee pursuant to this chapter shall be in addition to any license fee or business license tax prescribed by the City. (Ord. 5765 § 1; April 24, 2001: Ord. 6456 § 1 (part); January 15, 2019.)