(a) The Franchisee may require refundable deposits for service or equipment. Upon termination of Cable Service for any reason, Subscribers will be entitled to receive a refund or credit against amounts owed by the Franchisee equal to the deposit. On all deposits, the Franchisee shall pay simple interest at a rate of one-half percent (1/2%) per month (6% per year). Such interest shall be accrued and payable upon termination of Cable Service. Upon termination of Cable Service for any reason, Subscribers will be entitled to receive a refund or credit against amounts owed the Franchisee equal to the deposit plus accumulated interest. The rate may be modified to reflect prevailing market rates upon approval by the Franchise Authority which shall not be unreasonably withheld. Such interest shall be accrued on deposits charged to Subscribers after the effective date of the franchise. The Franchisee shall not be required to pay simple interest on deposits received prior to such effective date.
(b) Refund checks will be issued promptly within forty-five (45) days following the resolution of the event giving rise to the refund.
(c) The Franchisee shall mail a check for a refund to any Subscriber disconnecting Cable Service with an outstanding credit of three dollars ($3.00) or more within 45 days of the date Cable Service is ended, and the Subscriber has returned all equipment owned by the Franchisee. The Subscriber is entitled to receive a ten dollar ($10.00) penalty payment, in addition to the total refund due if the refund is not provided within the 45 day period. Failure to comply with the ten dollar ($10.00) penalty provision shall be grounds for appropriate enforcement actions. Refunds will be provided to Subscribers with outstanding credits of less than three dollars ($3.00) upon request.
(d) Credits for Cable Service will be issued no later than the Subscribers next billing cycle following the determination that a credit is warranted.
(Ord. 41-1998. Passed 8-3-98.)