(A) Imposition. Because the County finds that:
(1) The streets of the county and state to be used by the grantee in the operation of its system within the boundaries of the franchise area are valuable public properties acquired and maintained by the county and state at great expense to its taxpayers; and
(2) The grant to the grantee of the said streets is a valuable property right without which the grantee would be required to invest substantial capital in right-of-way costs and acquisitions, and
(3) The administration of this chapter or the franchise imposes upon the county additional regulatory responsibility and expense, grantee of any franchise hereunder shall pay to the county a franchise fee in an amount as designated in the franchise, but in no event less than 5% of the gross annual revenues, or upon notification by the county, the maximum amount permitted under applicable federal, state, or local law, if such maximum is greater than 5%. This annual franchise payment shall be in addition to any other fee and commence as of the effective date of the franchise. The county shall be furnished a statement of said payment by a Certified Public Accountant, reflecting the total amounts of annual gross revenues and computations for the period covered by the payment. The grantee shall provide an audited statement to the county every three years from the date of the grant of franchise.
(B) Franchise fee in addition to other tax. This payment shall be in addition to any other tax or payment of general applicability owed by the grantee to governments or other taxing jurisdiction. Payment of the franchise fee made by grantee to the county shall be in addition to any and all taxes of general applicability which are now or may be required hereafter to be paid by any federal, state, or local law.
(C) Acceptance by the county. No acceptance of any payment by the county shall be construed as a release or as an accord and satisfaction of any claim the county may have for further or additional sums payable as a franchise fee under this chapter or for the performance of any other obligation of the grantee.
(D) Failure to make required payment. In the event that any franchise payment or recomputed amount is not made on or before the dates specified herein, grantee shall pay as additional compensation an interest charge, computed from such due date, at the annual rate equal to the commercial prime interest rate of the county's primary depository bank during the period that such unpaid amount is owed.
(E) Quarterly payments. The franchise fee and any other costs, charges, or damages assessed shall be payable quarterly to the county. The grantee shall file a complete and accurate verified statement of all gross revenue within the franchise area during the period for which said quarterly payment is made, and said payment shall be made to the county not later than 45 days after the expiration of each calendar quarter. Quarterly computation dates are the last day in the months of March, June, September and December.
(F) Audits. The county shall have the right to inspect the grantee's income records and the right to audit and to recompute any amounts determined to be payable under this chapter. Audits shall be at the expense of the grantee if the additional amount due is greater than two percent (2%) of the amount paid. Any additional amount due to the county as a result of the audit shall be paid within 30 days following written notice to the grantee by the county, which notice shall include a copy of the audit report.
(Ord. passed 12-2-96)