(A) During the term of any franchise granted pursuant to this chapter, the person granted the franchise shall pay to the village, for the use of its streets, public places, and other facilities, as well as the maintenance, improvements, and supervision thereof, and for the regulation of activities required by virtue of the franchise, an annual franchise fee in the amount which shall be established in the franchise agreement not to exceed the maximum allowed to be charged by the Federal Communications Commission or any other regulatory body. The village shall be furnished a statement with each payment, certified as correct by the franchisee, and an audited annual statement for the entire year, prepared by a certified public accountant indicating the annual local gross revenues. All statements shall reflect the total amount of local gross revenues, deductions, and computations for the period covered by this statement.
(B) Payments due the village under the terms of this chapter shall be computed quarterly as of September 30, December 31, March 31, and June 30 for the preceding quarter and shall be paid on or before the thirtieth calendar day from each computation date to the Village Treasurer.
(C) The village shall have the right to inspect at all reasonable times the customer records of any person granted a franchise hereunder from which its franchise fee payments are computed and shall have the right of audit and recomputation of any and all franchise fees paid. No acceptance of any payment shall be construed as a release or as an accord and satisfaction of any claim the village may have for further or additional sums payable as a franchise fee under this chapter or for the performance of any other obligation hereunder.
(Ord. 83, passed 8-4-1980)