A. For the privilege of a video service provider to occupy or use, in whole or in part, any highway within the boundaries of the Town to provide video service through a video service network, each video service provider shall pay the town a license fee of five percent (5%) of the gross revenue the video service provider receives from its subscribers located within the boundaries of the town.
B. The license fee shall be paid quarterly, with the payment for each calendar quarter due no more than thirty (30) calendar days following the end of the calendar quarter.
C. If any license fee payment is not made on or before the due date agreement, the video service provider shall pay an interest charge, computed from the due date, at an annual rate equal to the federal short-term rate determined pursuant to 26 U.S.C. § 6621(b) plus one and a half percent (1.5%) during the period for which payment was due. (Ord. O20-04, 9-15-2020)