(a) A grantee shall pay to the City for the use of its streets, public places and other facilities, as well as for the City's maintenance, improvement and supervision, a monthly franchise fee in an amount equal to five percent of the gross revenue received by the grantee. Payments due the City under the terms of this subsection shall be paid quarterly on or before the twenty-fifth day following the end of the quarter. The City shall be furnished a certificate with each payment reflecting the gross revenue, the deductions and the computations for the period covered by the payment.
(b) Franchise fee payments shall be in addition to any other tax, charge, fee or payment due the City by a grantee.
(c) Not less than annually, a grantee shall provide the City with an unqualified opinion of an independent certified public accountant certifying the accuracy of the monthly franchise fee payments paid within the preceding twelve months. Said certification shall be prepared in accordance with generally accepted accounting standards as established by the Financial Accounting Standards Board (FASB).
(Ord. 615. Passed 9-5-95.)