(A) A grantee of any franchise hereunder shall pay to the city an annual fee in an amount as designated in the franchise agreement. The franchise payment shall commence as of the effective date of the franchise. The city shall be furnished an annual statement of said quarterly payments by a certified public accountant, reflecting the total amounts of annual gross revenues and the above charges and computations for the period covered by the payment.
(B) This payment shall be in addition to any other tax or payment owed to the city or other taxing jurisdiction by the grantee.
(C) No acceptance of any payment by the city shall be construed as a release or as an accord and satisfaction of any claim the city may have for further or additional sums payable as a franchise fee under this chapter.
(D) In the event that any undisputed franchise payment is not made on or before the dates specified herein, the grantee shall pay an interest charge, computed from such due date, at the annual rate equal to the commercial prime interest rate in effect upon the due date.
(E) The franchise fee and any other cost or damages assessed shall be payable quarterly to the city finance office, payable to the city. Payment date is the last day of the month following the date in which payment is due.
(F) (1) The city shall have the right upon reasonable notice to inspect the grantee’s income records and the right at the city’s expense to audit and to recompute any amounts determined to be payable under this chapter.
(2) Any undisputed additional amount due to 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; provided, that the grantee shall net be required to pay an interest charge in accordance with subsection (D) herein in such an event.
(Ord. passed 2-16-93)