(A) The grantee shall pay to the Town for and in consideration of the right and privilege to conduct cable television operations pursuant to this franchise an annual fee in an amount equal to 3% of its gross revenues as defined in § 112.02 of this chapter, which revenue is derived from the grantee’s cable television operations in the Town with each year’s fee due and payable to the Clerk-Treasurer of the Town by March 31 for the preceding calendar year.
(B) In the event of revocation or termination of this franchise, the final annual fee payment shall be pro-rated from the immediately preceding January 1 to the date of termination of service.
(C) The grantee shall annually file with the Town Council by March 1 for the preceding calendar year, an annual report of all revenues and expenses within the Town. The Town Council may, at any reasonable time have access to the grantee’s books and records for audit purposes upon providing the grantee written notice for such access stating the reason therefor, at least 30 days before exercising its rights to access as referred to in this division (C).
(D) In the event that any franchise payment or recomputed amount, cost or penalty is not made on or before the applicable dates heretofore specified, interest shall be charged daily from such date at an annual rate of 18%.
(E) The grantee shall, on or before March 1 of each year, file with the Town Clerk-Treasurer, true and accurate maps or plats showing the location of all existing cables, whether leased or owned outright. Attached to such maps or plats shall be a list by address of current subscribers.
(2005 Code, § 95.9)