(A) The company shall pay to the town, for and in consideration of the right and privilege to conduct cable television operations pursuant to a franchise, an annual fee in an amount equal to 3% of its monthly gross subscriber revenues derived from it cable television operations in the town, with each year’s fee due and payable to the Town Clerk-Treasurer by March 31, for the preceding calendar year.
(B) In the event of revocation or termination of a franchise, the final annual fee payment shall be prorated from the immediately preceding January 1 to the date of termination of service.
(1991 Draft Code, § 4-102) (Ord. 2-1980, passed 3-24-1980)