Ordinance 2571 - Laserfiche WebLink

every year for the calendar year ureceding with the exception tat the first of such payments snail be based upon the said earnings for the fractional part of tae calendar year following the date this franchise becomes effective. , From and . after tae effective date of this franchise , the grantee , its successors or assigns,. shall . .ake further payment to tac City of 7:,verett of Fifty Cents (50/) per annum for each telephone pole solely owned , and exclusively occupied and used, by the grantee , and which shall be located upon any public street or alley within the City of Tverett d,,iring the term of this franchise. The grantee shall pay such amount to the City on or before the 15th day of each and every 'harch for the poles occupying suca streets and alleys during the preceding calendar year after the effective date of this franchise. This provision sAlall be considered as full comdensation and satis- faction of any levies contemplated or required by section 148 of the Charter of 7.verett. • section 8: The City shall have the right at all times to make examination of the grantee 's books for the purpose of determ- ining and calculating correctly the Two percent (271 of the gross annual exchange service earnings of the grantee , vtlica is to be paid to the City under this franchise , and the grantee shall, within sixty (60) days fter the first day of January of each year, deliver to the City Clerk for submission to the City Council an annual report verified by the President , a Vice-T:resident, the Treasurer or leneral manager of tae grantee , showing the said ; ross annual exchange service earnings in the City of .vverett and the average number of poles aforesaid for the preceding calendar year. Section 9: The grantee , its successors and assigns, snail not issue anycapital stock on account of the franchise hereby granted , nor the value thereof other *Ulan the actual and proper costs of acquisition, and should the City institute condemnation -b-