For the use of the streets and for the purposes of providing revenue with which to defray the costs of regulation arising out of the issuance of franchises under this chapter and promoting, assisting, and financing community use programming, PEG programming, and other cable services of a public character, each grantee shall pay franchise fees in the amount prescribed by Section 11-1.1502 of this article. (§ 1, Ord. 961, eff. October 27, 1983, as amended by § 16, Ord. 999, eff. March 7, 1985)