(A) Amount and time. As compensation for the right, privilege, and franchises herein conferred, the grantee shall pay to County Council each year during the term of this franchise a sum equal to 3% of the grantee's gross revenue for the year provided that the fee may be increased to an amount not to exceed 5% of gross revenues upon approval of or deregulation by the Federal Communications Commission. The payments shall be made quarterly. The grantee shall file with the County Council within 60 days after the expiration of each quarter of each calendar year, or portion thereof, during which this franchise is in effect, a financial statement prepared according to generally accepted accounting principals showing in detail the gross revenue of the grantee during the preceding quarter of the calendar year. The statement shall be accompanied by the grantee's payment to the franchise area of 3% of the gross revenues for that quarter.
(B) Right of inspection of records. The grantor shall have the right to inspect the grantee's records showing the gross revenue from which payments to the franchise area are computed and to audit and recompute any and all amounts paid under this franchise. No acceptance of payment shall be construed as a release or as an accord and satisfaction of any claim grantor may have for further or additional sums payable under this franchise or for the performance of any other obligation hereunder.
(C) Other payments to grantor. The franchise fee payable hereunder shall be exclusive of and in addition to all ad valorem taxes or special assessments for municipal improvements.
(Prior Code, § 92.19) (Ord. 966E, passed 2-22-1982; Ord. 1061A, passed 5-9-1989)