(A) Each franchisee shall pay an annual franchise fee to the Town for reimbursement for use of the street and for costs associated with procurement, maintenance and oversight of the street for the public, current and future users. The Town expressly reserves the right to review and/or modify any telecommunications franchise compensation agreement every third year of the franchise.
(B) The payment of a franchise fee shall be in addition to any tax or payment owed to the Town by a telecommunications carrier.
(C) The franchise fee and any other costs or penalties assessed shall be payable on a quarterly basis to the Town and a telecommunications carrier shall pay the same and file a complete and accurate verified statement of all gross revenue, as defined in this section, within 45 days after each calendar quarter.
(D) The Town shall have the right to inspect a telecommunications carrier’s income records and the right to audit and to recompute any amounts determined to be payable under this chapter; provided, however, that such audit shall take place within 36 months following the close of each of a telecommunications carriers fiscal years. Any additional amount due to the Town as a result of the audit (together with the cost of the audit unless the shortage is a de minimus amount) shall be paid within 30 days following written notice to a telecommunications carrier by the Town, which notice shall include a copy of the audit report. Notwithstanding the foregoing, an amount shall be deemed de minimus if such amount is equal to 1% or less of the amount paid by a telecommunications carrier during the audited period.
(E) If any franchise fee or recomputed amount, cost or penalty is not paid on or before the applicable dates heretofore specified, interest shall be charged daily from such date at the then legal maximum rate in the state and a telecommunications carrier shall reimburse the Town for any additional expenses and costs incurred by the Town by reason of the delinquent payments.
(F) The franchise fee does not include any tax, fee or assessment of general applicability.
(`83 Code, § 13-729) (Ord. 00-20, passed 9-11-00)