A. During the term of the franchise, grantee shall pay quarterly to city a franchise fee in an amount equal to five percent (5%) of its quarterly gross revenues, or such other amounts as are subsequently permitted by federal statute.
B. Any payments due under this provision shall be payable quarterly. The payment shall be made within thirty (30) days of the end of each of grantee's fiscal quarters together with a report showing the basis for the computation.
C. All amounts paid shall be subject to audit and recomputation by city and acceptance of any payment shall not be construed as an accord that the amount paid is in fact the correct amount. (Ord. 827, 8-5-2002, eff. 8-26-2002)