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(A) The city government may audit of the books, records, and accounts of the grantee for the purpose of determining whether the grantee has paid franchise fees in the amounts prescribed by § 118.053 or otherwise required by the franchise agreement. Subject to potential reimbursement as provided for below, the audit shall be conducted at the sole expense of the city government. A copy of the report detailing the audit's findings shall be provided to the grantee.
(B) If the city government has a certified public accountant conduct the audit and if the audit indicates that the grantee has paid less than 95% of the total amount of the franchise fees that its is obligated to pay the city government under the terms of this chapter and its franchise agreement, the grantee shall pay the city government not only the amount of the shortfall with interest based on an annual rate of 8%, but also all costs associated with the audit and the enforcement of this provision. Any period for which franchise fees are not more than 30 days past due shall not be included in the determination of whether 95% of the total amount of the franchise fees have been paid for the application of the audit and enforcement cost reimbursement provision. The grantee shall be entitled 30 days from its receipt of the audit report to present the city government with evidence that the audit findings should not be relied on for determining the existence and amount of a shortfall in franchise fee payments prior to being required to make payment of the amounts provided for by this section.
(C) Each grantee shall make available for inspection by authorized representatives of the city, its books, accounts, and all other financial records, at reasonable times and upon reasonable advance notice for the purpose of permitting exercise of the authority conferred by this section.
(1980 Code, § 118.056) (Ord. 1996-4, passed 4-9-1996)