The holder of the franchise shall pay to the city quarterly, within 60 days after the end of each quarter of the calendar year during the term of this franchise, a franchise fee equal to a minimum of 5% of the gross service revenues received by the franchise holder during the preceding calendar year.
GROSS SERVICE REVENUES shall include basic subscription charges, charges for any premium or pay-per-view channels, installation fees and any other revenue derived from cable subscribers within the city. The holder of the franchise shall provide with each annual payment a statement indicating the gross service revenues received during the preceding year, certified to be accurate by an appropriate corporate officer. Upon request specifying a reasonable time and including reasonable advance notice, the holder of the franchise shall make available its records and financial reports in order that the city may verify the gross annual revenues.
(1997 Code, § 451.4) (Ord. passed 8-6-1990)