(A) The company shall pay to the city, for and in consideration of the right and privilege to conduct cable television operations pursuant to this franchise, an annual fee in a percentage of its gross subscriber revenues (as defined pursuant to the rules of the FCC) which are derived from its cable television operations in the city, the percentage to be determined by the Common Council, with each year's fee due and payable to the City Clerk by January 31 for the preceding calendar year.
(B) In the event of revocation or termination of this franchise, the final annual fee payment shall be prorated from the immediately preceding January 1 to the date of termination of service.
(Ord. G-77-639, passed 1-3-1977; Ord. G-89-204, passed 11-16-1989)