A.   A service provider fee is hereby imposed on any holder providing cable service or video service in the village.
   B.   The service provider fee shall be five percent (5%) of the holder's gross revenues.
   C.   Any 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.   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 section by the holder. The ordinance adopting this section shall be sent to the holder in the manner required by the act.
   E.   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.   The fee hereby imposed does not apply to existing cable service or video service providers that have an existing franchise agreement with the village pursuant to which a fee is paid.
   G.   An incumbent cable operator that elects to terminate an existing agreement pursuant to section 21-301(c) of the act, with credit for prepaid franchise fees under that agreement may deduct the amount of such credit from the fees that operator owes pursuant to this section. (Ord. 08-2-1, 2-5-2008)