Immediately upon execution of the franchise, the grantee shall pay to the city, on or before March 31st, of each year, a sum of five percent of gross receipts as defined in Section 5.20.010F, received by the franchisee for cable television operations in the city for the preceding calendar year. No other fee, charge or consideration will be imposed except such generally applicable business license fees, construction, development and inspection, and permit fees as set by the city. The grantee shall file with the city within ninety days after the expiration of any calendar year or portion thereof during which a franchise is in force, a financial statement prepared by a certified public accountant and in a form satisfactory to the director of finance for the city, showing in detail the gross annual receipts, as defined herein, of grantee. Upon reasonable notice and during regular business hours, the city shall have the right to inspect the grantee's records, and make copies thereof, covering its gross subscriber revenues under the franchise and the right of audit and recomputation of any and all amounts payable under this chapter; the cost of such audit shall be borne by grantee when the same results in increasing by more than two percent the grantee's annual payment to the city. No acceptance of any payment shall be considered as a release or as an accord and satisfaction of any claim the city may have for further or additional sums payable under this chapter or for the performance of any other legal obligation hereunder.
(Ord. 505 § 1(part), 1987).