A. The CAC shall be funded by:
1. Payments by the grantee(s), including an initial payment; a percentage of annual gross cable revenues subject to a guaranteed minimum annual payment; and contributions of funds for studios, equipment and technical assistance; in amounts to be agreed upon and specified in the franchise(s); and
2. Foundation, corporate, governmental and other philanthropic grants; and
3. Payments from the holder of a State- issued authorization to provide cable service or video service in Chicago.
B. The Cable Administrator shall direct that two- thirds of all fees paid for public, educational or governmental use by each grantee, pursuant to subparagraph A(1) of this section, and each holder of a State-issued authorization, pursuant to subparagraph A(3) of this section, be paid directly to the CAC. If direct payment to the CAC is not possible, the City shall accept and remit in full to the CAC the amount specified by this paragraph within sixty days of receipt.
(Prior code § 113.1-37; Amend Coun. J. 12-9-92, p. 25465; Amend Coun. J. 3-18-09, p. 55728, § 2; Amend Coun. J. 4-24-12, p. 23998, § 1; Amend Coun. J. 11-19-14, p. 98037, § 7)
Editor's note – Coun. J. 4-24-12, p. 23998, § 1, repealed former § 4-280-330 and renumbered this section, which was formerly § 4-280-370, as § 4-280-330.