A. A grantee, in consideration of the privilege granted under the franchise for the operation of a cable system within the public ways of the city, the expense of regulation pursuant to the franchise incurred by the city and for other costs and considerations, shall pay to the city a franchise fee of not less than five percent of its annual gross revenues during the period of its operation under the franchise.
B. The grantee shall file with the city, within 30 days after the expiration of each of the grantee's fiscal quarters, a financial statement clearly showing the gross revenues received by grantee during the preceding quarter and shall simultaneously tender payment of the quarterly portion of the franchise fee. The grantee shall also file, upon request by the city, within 120 days following the conclusion of the grantee's fiscal year, an annual report prepared and audited by a certified public accountant acceptable to the city, clearly showing the yearly total gross revenues.
C. At any time during the term of a franchise, the city shall have the right, consistent with the provision of Section 4-280-190 to inspect a grantee's income records, the right of audit and the recomputation of any amounts determined to be payable under this chapter and the franchise. Any additional amount due the city as a result of the audit shall be paid within 30 days following written notice to the grantee by the city which notice shall include a copy of the audit report. The cost of said audit shall be borne by the grantee if it is properly determined that the grantee's annual payment due to the city for the proceeding year is increased thereby by more than five percent.
D. In the event that any franchise payment or recomputed amount is not made on or before the applicable dates heretofore specified, interest shall be charged from such due date at the rate of one percent per month.
E. No acceptance by the City of any franchise fee shall be construed as an accord that the amount paid is in fact the correct amount, nor shall such acceptance of such franchise fee payment be construed as a release of any claim the city may have for additional sums payable.
F. The franchise fee payment is not a payment in lieu of any tax, fee, or other assessment, except as specifically required by applicable law. By way of example, and not limitation, permit fees and business license fees are not waived and remain applicable.
(Prior code § 113.1-17; Amend Coun. J. 3-27-85, p. 14767; 12-9-92, p. 25465; Amend Coun. J. 4-24-12, p. 23998, § 1)
Editor's note – Coun. J. 4-24-12, p. 23998, § 1, repealed former § 4-280-130, which pertained to arbitration provisions, and renumbered this section, which was formerly § 4-280-170.