The grantee agrees to pay to the village a percentage of its gross revenues received from its residential subscribers in the village for the service of distributing commercial television station signals into residential subscribers, homes, and from its Pay Television revenues. The percentage of these gross residential receipts shall be payable to the village at the end of each fiscal year of the grantee as follows: 3% of all annual gross receipts from basic service and Pay TV income.
(Prior Code, § 3-8-8)