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A. Any grantee granted a franchise under this chapter shall pay to the city, during the life of such franchise, a sum equal to three percent of the annual total gross receipts and in addition thereto, such other sums as may be provided for elsewhere in this chapter. If, during any part of the franchise term, there is in effect a federal or state limit regulating the franchise fee percentage to a lesser or greater amount, such a limitation shall supersede the amount stated above but only for that time period such limit is legally operational. Franchise fee payment by the grantee to the city shall be made annually by delivery of the same to the director of finance.
B. The grantee shall file with the director of finance, within ninety days after the expiration of the grantee's fiscal year or portion thereof during which such franchise is in force, a balance sheet and statement of profit and loss certified to by a certified public accountant, or person otherwise satisfactory to the director of finance, showing in detail the gross receipts, as defined in Section 13.12.010K, of grantee during the preceding fiscal year, or portion thereof. It shall be the duty of the grantee to pay to the city, within fifteen days after the time of filing such statements, the sum hereinabove convered by such statements unless extended by the city. Payments made after the time specified above shall be subject to a late fee of fifteen percent of the amount due unless such late fee is waived by the city.
C. Upon reasonable notice, the city shall have the right to inspect and audit the grantee's fiscal records. The grantee shall assume all reasonable costs for said audit. No acceptance of any payment shall be construed as a release or as an accord and satisfaction of any claim the city may have for further additional sums payable under this section or for the performance of any other obligation hereunder.
(Ord. 85-09-954 § 1; Ord. 85-07-950 § 1 (part))