(a) During the term of any franchise granted pursuant to this chapter, the person granted such franchise shall pay to the City, for the use of its streets, public places and other facilities; for the maintenance, improvement and supervision thereof; and for the regulation of activities required by virtue of the franchise, an annual franchise fee of three percent of all local gross subscriber revenues. The City shall be furnished a statement with each payment, certified as correct by the franchisee, which statement shall be filed with the City not later than March 15 of each calendar year. Such statement shall be for the entire prior calendar year, prepared by a certified public accountant, indicating the annual local gross revenues and local gross subscriber revenues. All statements shall reflect the total amount of local gross revenues and the charges, deductions and computations for the period covered by the statement.
(b) Such franchise fee shall be paid annually on or before the last day of the third month following the close of each calendar year, at the office of the City Treasurer during regular business hours. If the City Treasurer's office is closed on such day, then payment shall be made during regular business hours on the next business day.
(Ord. 199. Passed 6-2-87.)