(a) For the privilege of holding a permit to operate a cable communication system in the Village entitling the operator to install his distribution and transmission facilities in, under and over the streets, highways and other public grounds of the Village so that the operator may offer his service or services subject to the overall provisions of this chapter, each operator shall make payments to the Village as follows:
(1) Each year the operator shall pay to the Village three percent (3%) of the total basic subscriber revenue. This payment shall be known as the annual franchise fee and shall be credited to an account for the regulation, supervision and development of cable communications.
(2) The operator shall not be permitted any deduction from total basic subscriber revenue, excepting any direct use taxes which may be imposed in the future on all or a portion of his receipts. Such direct use taxes, whether the result of new legislation or an expansion of existing taxes by appropriate authorities, may be deducted from the total basic subscriber revenue by the operator.
(b) All payments to the Village under this chapter shall be made semi-annually with the operator having the option to use a calendar or fiscal year as the operating year. The operator shall not change the accounting period initially selected unless the change is first approved in writing by the Administrator.
(1) The mid-year payment of the franchise fee may be on the basis of unaudited total basic subscriber revenue and shall be due and payable within thirty days of the end of the sixth month of the operating year.
(2) The year-end payment of the franchise fee shall be due and payable within ninety days after the close of the operator's operating year. The operator, within forty-five days of this payment, shall submit to the Administrator and Council complete accounting information performed in accordance with generally accepted accounting principles that has been audited and certified by an independent certified public accountant in accordance with generally accepted auditing standards, and that as a whole fairly and accurately presents the financial position and operations of the operator for the year. The financial information shall be attested to by the Comptroller and President of the operator.
(c) All payments to the Village shall be by certified check, made payable to the Fiscal Officer, and either hand-delivered or sent by registered mail to the Administrator.
(d) Council, the Administrator or their authorized representatives shall have the right to reasonable inspection of the books and records, financial or otherwise, maps, plans and other similar materials of the operator at the office of the operator during normal business hours. Further, each month, every operator shall provide to the Administrator, a written report documenting subscriber information as specified by the Administrator. Such report shall be submitted no later than the fifteenth day of the following month.
(Ord. 5-80. Passed 5-12-80; Ord. 14-2021. Passed 6-14-21.)