(A) The grantee shall keep accurate books of account for at least 3 years at an office in Oregon for the purpose of determining the amounts due to the city under § 101.03 of this franchise. Authorized representatives of the city may inspect the books of account at any time during business hours and may audit the books from time to time. The city may require periodic reports from the grantee relating to its operations and revenues within the city limits. The city shall treat any public record relating to grantee's operations or revenues as confidential, subject to the provisions of state law and the Oregon Public Records Law.
(B) The city shall have the right to conduct, or cause to be conducted, an audit of gross revenues as defined herein for the purpose of ascertaining whether grantee’s franchise fee payments have met the requirements of this franchise. The cost of any such audit shall be borne by city, unless the results of any such audit reveal an underpayment of more than 5% of the franchise fee for the period audited. In the case of such underpayment, the full cost of such audit shall be paid by grantee. Any difference of payment due either the city or the grantee following audit shall be payable within 30 days of written notice to the affected party. All books will be made available to authorized representatives of the city at no cost to the city.
(Ord. 2008-04-01, passed 4-8-2008; Ord. 2010-04-01, passed 5-13-2010)