The grantee of a franchise shall pay to Town of Star City a franchise fee equal to 5% of the annual gross revenues received from operations in the Franchise Area, provided, however, that in the case of an cable system franchise, gross revenues shall mean the revenue derived by the franchisee from the operation of the cable system to provide cable services, calculated in accordance with generally accepted accounting principles. Gross revenues under any cable franchise agreement shall not include advertising or home shopping revenue, and with respect to any franchise agreement (cable or otherwise) shall not include refundable deposits, bad debts, late fees, the franchise fee itself, investment income, nor any taxes, fees or assessments imposed or assessed by any governmental authority, except as otherwise agreed by the parties and consistent with applicable law. (Passed 7-25-17.)