Any materially false or misleading statement or representation made knowingly by the grantee in any report required by the franchise shall be deemed a material breach of the franchise and shall subject the grantee to all penalties and remedies, legal or equitable, which are available to the grantor under the franchise or otherwise.
('65 Code, § 7-8.1313) (Ord. 244-C.S., passed - - ) Penalty, see § 112.999