(A) In consideration of such privilege, right and exclusive franchise, each franchisee shall pay to the City of Banks each fiscal year during the life of this franchise beginning January 1, 2013, an annual fee derived from revenue received by that franchise from solid waste management service within the boundaries of the City of Banks. The franchise fee shall be 3% of gross revenues, and shall not be levied on any revenue derived from recycling.
(B) The franchise fee required in division (A) above shall be paid quarterly, and shall be due and payable within 45 days of the end of the calendar quarter. Accompanying the payment described above, each franchisee shall file with the Recorder of the City of Banks a statement showing their amount of the gross revenues and the amount of recycled revenues received by that company within the City of Banks for the calendar quarter immediately preceding the calendar quarter in which such statement is filed.
(C) If controversy arises as to the amount of gross revenue within the meaning of this chapter, the franchisee agrees to have its books and accounts audited by a certified public accountant, and the report of the certified public accountant shall be deemed to be the correct amount. Any difference of payment due either to the city or to a franchisee or through error or otherwise shall be payable within 15 days of the discovery or determination of the error.
(D) Should any franchisee fail or neglect, for 30 days after any quarterly payment shall become due and payable, to make the quarterly payments, the City of Banks, by its properly constituted authorities, may charge interest retroactive to the due date, and at a rate of 9% per annum, and may at its option either continue this franchise in force and proceed by suit or action to collect the payment, or declare a forfeiture of this franchise because of the failure to make payment, but without waiving its right to collect earned franchise payments, and interest.
(E) Franchise records, utilizing a recognized bookkeeping system, showing the gross receiptsresulting from the solid waste service conducted under this ordinance, shall be open at all times for audit by authorized personnel designated by the Mayor, upon reasonable advance notice to the franchisee. Willful misrepresentation of gross receipts by a franchisee shall be cause for revocation of the franchise pursuant to § 104.10.
(Ord. 2007-11-02, passed 11-13-2007; Ord. 2010-04-01, passed 5-13-2010; Am. Ord. 2012-11-01, passed 11-13-2012)