The company shall pay the city, on or before each March 31, a franchise fee of three percent (3%) of gross subscriber revenues for cable television operations within the city for the preceding calendar year. The company shall provide an annual summary report showing annual gross subscriber revenues received during the preceding year. The records of the company reflecting information in relation to this section shall be available for inspection by duly authorized representatives of the city at all reasonable hours and upon reasonable notice. (Ord. A-408, 5-2-1982)