(A) Franchise fee. The franchisee shall pay to the franchising authority a franchise fee equal to $300 per year. The franchise fee payment shall be due and payable within 30 days after franchisee’s notice of intent is provided to the franchising authority under § 110.116 and within 30 days after each anniversary date thereafter.
(B) Limitation on franchise fee actions. The period of limitation for recovery of any franchise fee payable hereunder shall be five years from the date on which payment by the franchisee is due. Unless the franchising authority initiates a lawsuit for recovery of the franchise fees in a court of competent jurisdiction, within five years from and after the payment due date, the recovery shall be barred and the franchising authority shall be stopped from asserting any claims whatsoever against the franchisee relating to any alleged deficiencies.
(Prior Code, § 36-2-2-23) (Ord. 04-61, passed 2-2-2004, 2004 COM REC 61–71)