Ordinance 1138-85 - Laserfiche WebLink

• • • safety and welfare of the public ; and, it agrees to comply with all applicable general laws enacted by the City pursuant to such power. Section 3: Franchise Fee. The Franchisee shall pay the City quarterly, on or before the thirtieth (30th) day of each January, April , July and October, a sum equal to five percent (5% ) of the Gross Subscriber Revenues collected by the Fran- chisee as a "Franchise fee. " (a ) Amendment. In the event the Cable Communications Act is amended to permit an increase in the five (5% ) percent Franchise fee ceiling , the City may increase its Franchise fee to an amount not greater than: (i ) the new ceiling permitted by federal law or regulation or (ii ) the actual Franchise fee or tax paid to the City by other utility franchisees which use the City 's streets, alleys, and public places. (b) Late Payment. Any quarterly Franchise fee not paid by Franchisee within thirty (30) days of the end of a quarter shall bear interest at the rate of twelve percent (12%) per annum of the amount due, until paid, after said due date. (c ) Financial Reports. Each Franchise fee payment shall be accompanied by a financial report showing the basis for Franchisee ' s computation separately showing revenues received by Franchisee within the City from Basic Service, pay TV service, other applicable sources of revenue, and such other information directly related to confirming the amount of the Franchisee 's Gross Subscriber Revenues as may be reasonably required by the City. (d) Audit by City. The City shall have the right, upon reasonable advance notice, to inspect the books and records of Franchisee, during reasonable business hours, for the purpose of ascertaining the actual Gross Subscriber Revenues collected by Franchisee. In the event such audit shall disclose a discrepancy of more than ten percent (10% ) between the financial report submitted by Franchisee with a quarterly payment, and the actual Gross Subscriber Revenues collected by Franchisee, Franchisee agrees to pay to City the costs of such audit. In the event that such audit results in a determination that additional Franchise fees are due the City, the Franchisee further agrees to pay twelve percent (12% ) interest on such additional Franchise fees computed from the date on which such additional Franchisee fees were due and payable. (e ) Nonwaiver. No acceptance of any Franchise fee payment by City shall be construed as an agreement by City that the Franchise fee paid is in fact the correct amount, nor shall its acceptance of payment be construed as a release or waiver of any claim the City may have for further or additional sums payable under the provisions of this Franchise Ordinance. (f ) Taxes. Nothing in this section shall limit the Franchisee ' s obligation to pay applicable local, state, or federal taxes. Conversely, this Ordinance does not increase the tax obligations of Franchisee. Franchisee agrees to pay any applicable amusement taxes, utility and property taxes. There shall be no City business and occupation tax applicable to Franchisee, except to Franchisee' s revenues which are not subject to a Franchise fee as Gross Subscriber Revenues. ORDINANCE - 4 5-2 1-85