(a) Findings. The City finds that:
(1) The streets of the State, the County and the City to be used by a grantee in the operation of its system within the boundaries of the franchise area are valuable public properties acquired and maintained by the State, the County and the City at great expense to their taxpayers;
(2) The grant, to a grantee of the said streets is a valuable property right, without which said grantee would be required to invest substantial capital in right- of-way costs and acquisitions; and
(3) The administration of this chapter and the franchise agreement imposes upon the City additional regulatory responsibility and expense.
(b) Payment of Franchise Fee. A grantee of any franchise hereunder shall pay to the City a franchise fee in an amount up to the maximum allowable by law, to be established in the franchise agreement. The City shall be furnished with a statement of said payment by an officer of the grantee reflecting the total amounts of annual gross revenues and the above charges and computations for the period covered by the payment.
(c) Franchise Fee to be in Addition to Other Tax or Payment. The payment of a franchise fee shall be in addition to any other tax or payment owed to the governments, or other taxing jurisdiction, by a grantee. Payment of the franchise fee made by a grantee to the City shall not be considered in the nature of a tax, but shall be in addition to any and all taxes which are now or may be required hereafter to be paid by any Federal, State or local law.
(d) Acceptance by the City. No acceptance of any payment by the City shall be construed as a release or as an accord and satisfaction of any claim the City may have for further or additional sums payable as a franchise fee under this chapter or for the performance of any other obligation of a grantee. The City shall deem the payment of franchise fees as a release or as an accord and satisfaction of any claim the City may have for further franchise fee sums relating to said payment if, after four years from the payment of any such fee the City has not notified a grantee of the conditions set forth in Section 812.11(f).
(e) Failure to Make Required Payment. In the event that any franchise payment or recomputed amount is not made on or before the dates specified herein, a grantee shall pay, as additional compensation, an interest charge computed from such due date at the annual rate equal to the commercial prime interest rate of the City's primary depository bank during the period that such unpaid amount is owed.
(f) Payments to be Made Quarterly. The franchise fee and any other cost or damage assessed against a grantee shall be payable quarterly to the City of New Carlisle. A grantee shall file a complete and accurate verified statement of all gross revenues within the franchise area during the period for which said quarterly payment is made, and said payment shall be made to the City no later than forty-five days following the end of each calendar quarter. Quarterly computation dates are the last day in the months of March, June, September and December.
(g) Inspection of Records; Audits. The City shall have the right to inspect a grantee's income records upon reasonable notice, and the City reserves the right to audit and to recompute any amounts determined to be payable under this chapter. Any additional amount due the City as a result of the audit shall be paid within thirty days following written notice to a grantee by the City, which notice shall include a copy of the audit report.
(Ord. 95-17. Passed 9-18-95.)