(A) Fee amount. A grantee of any franchise hereunder shall pay to the county an annual fee in an amount as designated in the franchise agreement.
(1) The quarterly franchise payment shall commence as of the effective date of the franchise.
(2) The county shall be furnished a statement of said payment by a certified public accountant, reflecting the total amounts of annual gross revenues and the above charges and computations for the period covered by the payment.
(B) Payment additional. This payment shall be in addition to any other tax or payment owed to the county or other taxing jurisdiction by the grantee.
(C) Acceptance not release. No acceptance of any payment by the county shall be construed as a release or as an accord and satisfaction of any claim the county may have for further or additional sums payable as a franchise fee under this chapter.
(D) Interest. In the event that any undisputed franchise payment is not made on or before the dates specified herein, the grantee shall pay an interest charge, computed from such due date, at the annual rate equal to the commercial prime interest rate in effect upon the due date.
(E) Payable quarterly. The franchise fee and any other cost or damages assessed shall be payable quarterly to the county and submitted to the county finance officer or other designee. Payment date is the last day of the month following the month in which payment is due.
(F) Audited financials. The grantee agrees to provide to the county an independently audited annual financial statement, including a balance sheet and income statement which details all gross revenues for the county system. Unless modified by terms of grantee's franchise agreement, a copy of the annual audit report of the grantee's parent company shall also be provided.
(G) Right to inspect. The county shall have the right upon reasonable notice to inspect the grantee's income records and to re-compute any amounts determined to be payable under this chapter. Any undisputed additional amount due to the county as a result of the audit shall be paid within 90 days following written notice to the grantee by the county, which notice shall include a copy of the audit report.
(Ord. 3502, passed 10-7-02)