(A) The franchisee shall pay a franchise fee to the city in an amount equal to 7% of the franchisee's gross revenue derived from its operations within the city. Gross revenues shall have the same meaning as in set forth in O.R.S. 221.515.
(B) Payment of franchise fees. Payments due under this provision shall be computed and paid quarterly for the preceding quarter, as of March 31, June 30, September 30 and December 31, with each quarterly payment due and payable no later than 30 days after each date. This franchise fee shall be deposited in the U.S. Mail, postage prepaid, addressed to the City Finance Director, and postmarked by the due date described herein.
(C) If a payment is not mailed or sent electronically within 30 days of the due date set forth above, the payment shall be deemed delinquent and shall accrue a late fee of 9% compound interest per annum until collected.
(Ord. 2022-07-01, passed 8-9-2022)