2016/09/21 Council Agenda Packet

2 4.1.4 OTHER FEES • This Franchise shall not be construed to prohibit the City from imposing any fee now or hereinafter authorized by law, including, without limitation, fees authorized pursuant to RCW 35.21.860. 4.2. Payments Grantee's fee payments to the City shall be computed quarterly for the preceding calendar quarter ending March 31,June 30, September 30, and December 31. Each quarterly payment shall be due and payable no later than thirty(30)days after said dates. 4.3. Acceptance of Payment and Recomputation No acceptance of any payment shall be construed as an accord by the City that the amount paid is, in fact, the correct amount, nor shall any acceptance of payments be construed as a release of any claim the City may have for further or additional sums payable or for the performance of any other obligation of Grantee. 4.4. Quarterly Fee Reports Each payment shall be accompanied by a written report to the City, verified by an authorized representative of Grantee, containing an accurate statement in summarized form, as well as in detail, of Grantee's Gross Revenues and the computation of the payment amount. Such reports shall detail all Gross Revenues of the Telecommunications System and shall be drafted in . accordance with GAAP. 4.5. Annual Fee Reports Grantee shall, within sixty (60) days after the end of each year, furnish to the City a statement stating the total amount of Gross Revenues for the year and all payments, deductions and computations for the period. 4.6. Audits On an annual basis, upon thirty (30) days prior written notice, the City shall have the right to conduct an independent audit of Grantee's records reasonably related to the administration or enforcement of this Franchise, in accordance with GAAP. If the audit shows that fee payments have been underpaid by three percent(3%)or more, Grantee shall pay the total cost of the audit. 4.7. Late Payments 10 031