(A) The grantee herein shall pay, as consideration for the granting by the city of the franchise under this chapter, the sum of 5% of the gross receipts from all services to subscribers of the grantee residing within the corporation limits of the city.
(B) The payments shall be made to the city each year on the first day of the year following collection of gross receipts. The balance collected from date of passage of this section until December 31, 1995, shall be paid on January 1, 1996.
(1982 Code, § 112.22) (Ord. 1982-36, passed 2-7-1983; Ord. 1995-5, passed 5-8-1995; Ord. 2013-3, passed 1-14-2013)