(a) Upon the acceptance of a franchise and in consideration of the rights and privileges granted thereunder, the grantee shall pay to the city an initial franchise fee equal to $10 per month for each month or major fraction of a month remaining between the date of acceptance of the franchise and the next June 30.
(b) Thereafter, during the life of the franchise, the grantee shall pay to the city on or before the first day of July each year a franchise fee to cover the twelve-month period commencing July 1 and terminating the following June 30, the amount of this franchise fee to be 3% of the grantee's gross subscriber receipts derived from its operation in the corporate limits of the city for the grantee's most recent fiscal year ending on or before April 15. The fee for the last year of the grantee's franchise shall be computed on the same basis even though the term of the franchise is due to expire during the year. Within 120 days after the expiration of grantee's fiscal year, the grantee shall file with the city a financial statement prepared by a certified public accountant, or other person satisfactory to the city, showing in detail the gross subscriber receipts herein of grantee during the fiscal year.
(c) The payment of this fee is in addition to any ad valorem taxes which the city may be entitled to receive by reason of the existence of grantee's real and personal property.
(d) At any time during the three fiscal years following the payment of the annual fee, the city shall have the right to inspect the grantee's records showing the gross subscriber receipts from which these payments are computed, and the right of audit and recomputation of any and all amounts under this chapter.
(e) Acceptance of payment hereunder shall not be construed as a release or as an accord and satisfaction of any claim the city may have for further or additional sums payable under this chapter, or for the performance of any other obligations hereunder. (Ord. of 5/3/82, No. 48-82)