A.   Fee Imposed: A fee is hereby imposed on any holder providing cable service or video service in the village.
   B.   Amount Of Fee: The amount of the fee imposed hereby shall be five percent (5%) of the holder's gross revenues.
   C.   Notice To The Village: The holder shall notify the village at least ten (10) days prior to the date on which the holder begins to offer cable service or video service in the village.
   D.   Holder's Liability: The holder shall be liable for and pay the service provider fee to the village. The holder's liability for the fee shall commence on the first day of the calendar month following thirty (30) days after receipt of the ordinance adopting this chapter by the holder. The ordinance adopting this chapter shall be sent by mail, postage prepaid, to the address listed on the holder's application notice sent pursuant to 220 Illinois Compiled Statutes 5/21-401(b)(6) to the village.
   E.   Payment Date: The payment of the service provider fee shall be due on a quarterly basis, forty five (45) days after the close of the calendar quarter. If mailed, the fee is considered paid on the date it is postmarked. Each payment shall include a statement explaining the basis for the calculation of the fee.
   F.   Exemption: The fee hereby imposed does not apply to existing cable service or video service providers that have an existing franchise agreement with the village in which a fee is paid.
   G.   Credit For Other Payments: An incumbent cable operator that elects to terminate an existing agreement pursuant to 220 Illinois Compiled Statutes 5/21-301(c) with credit for prepaid franchise fees under that agreement may deduct the amount of such credit from the fees that operator owes under subsection B of this section. (Ord. G-847, 11-27-2007)