(a) Franchisee shall pay to the City for the privilege of operating a cable system under this franchise three percent (3%) of its gross subscriptions receipts per month, excluding bad debt, in accordance with the Cable Act. Such percentage shall be payable to the City on a quarterly basis due no later than 90 days following the end of the period.
(b) City shall have the right to inspect for up to three previous years the Franchisee’s records showing its gross receipts for all services from which its contracted payouts are computed. No acceptance of any payout by the City shall be construed as a release of or an accord or satisfaction of any claim the City might have for further or additional sums payable under the terms of this franchise. (Ord. 2000-7. Passed 9-19-00.)