The grantee shall pay to the City annually an amount equal to three percent of the semi-annual gross subscriber revenues or an amount equal to three percent (3%) of the gross annual receipts, whichever amount is greater and allowed by the rules and regulations of the Federal Communications Commission now or hereafter enacted, taken and received by it during the preceding twelve months or as otherwise provided in the grantee's franchise, for the use of the streets and other facilities of the City in the operation of the CATV system and for the City's supervision and administration thereof. This payment shall be in addition to any other tax or payment owed to the City by the grantee.
The grantee shall file with the City, within thirty days after the expiration of any calendar year or portion thereof during which such franchise is in force, a financial statement prepared by a certified public accountant or person otherwise satisfactory to Council, showing in detail the gross annual receipts, as defined herein, of the grantee during the preceding calendar year or portion thereof. It shall be the duty of the grantee to pay to the City, within fifteen days after the time for filing such statements, the sum hereinabove prescribed or any unpaid balance thereof for the calendar year or portion thereof covered by such statements.
In the event of any holding over after expiration or other termination of any franchise granted hereunder, without the consent of the City, the grantee shall pay to the City reasonable compensation and damages, of not less than 100 percent of its total gross profits during such period.
In the event that the grantee implements a proposed Community Services Network, and upon that event, the grantee may deduct the sum of one cent (1¢) per month per customer served within the City from the franchise payment whether it be based upon gross revenue or minimum payment. Grantee shall offer proof of implementation and proof of customer service upon a monthly basis.
(Ord. 19-77. Passed 7-18-77; Ord. 31-78. Passed 8-21-78; Ord. 13-80. Passed 5-5-80.)