The company shall pay to the village to defray the village’s cost of administrating this franchise a percentage of its annual gross subscriber revenues taken in and received by it from the delivery of television signals within the village. (This percentage shall be stated in the contract for franchise between the grantee and the grantor.) For the purpose of this franchise, gross subscriber revenues shall be limited to that revenue the licensee receives as a result of providing its customers with regular subscriber services, and shall not include revenues derived from preprogram or per-channel charges, leased channel revenue, advertising revenues, or any other income derived from the system. The franchise fee set forth herein shall be due and payable in cash in full within 60 days following the close of each fiscal year of the company.
(Prior Code, § 10-1-17)