As consideration for the rights conferred by the granting of this franchise, and to compensate the city for its superintendence of the franchise, the successful bidder shall pay to the city a percentage, not to exceed 3%, of the gross revenues received by the company during the term of the franchise from the provision of local exchange access service to customers residing within the territorial limits of the city, subject to the following conditions:
(A) The percentage of revenues shall be initially fixed by separate resolution which shall state the city's acceptance of the company's bid. Changes in the percentage, within the maximum percentage stated herein, shall be made by resolution with special notice thereof provided, at least 60 days in advance, to the company;
(B) The company shall remit to the city monthly all amounts due under this franchise. The first remittance shall be based upon revenues received by the company during the first month following the effective date of the franchise as set forth in § 111.48 hereof, and shall be paid within 60 days following that period. Thereafter, payments shall be made within 30 days after each subsequent period. The final payment shall be paid within 30 days following expiration of this franchise;
(C) LOCAL EXCHANGE ACCESS SERVICE is defined for these purposes as that portion of telephone service provided to end-user customers which permits a subscriber to access the normal serving local dial exchange, and is further identified as the basic telephone service provided to residence and business customers through single-line, party-line, key or PBX trunk arrangements; and
(D) As further consideration for the granting of this franchise, the company shall permit the city to utilize, at tariffed rates, terms and conditions, company pole space and conduit duct raceway space when the space is vacant or available at the time of the request for space by the city, and the city shall similarly permit the company to utilize, at reciprocal rates, terms and conditions, city pole space and conduit.
(Ord. 2005-07, passed 6-20-2005)