1980 069 Ordinance - Laserfiche WebLink

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M.V. ORDINANCE NO. 80-69 Page -9- years a financial statement clearly showing the gross revenues received by the Grantee during the preceding year. Payment of the franchise fee for such year shall be rendered to the Village at the time such statement is filed. The Grantee shall also file, within ninety (90) days following the conclusion of each fiscal year of the Grantee, an annual report prepared by an independent Certified Public Accountant employed by the Grantee showing the yearly total gross revenues, franchise payments made to the Village, and any further relevant financial information with regard to the Grantee as may be required by the Village Council, including the statement of the C.P.A. that such statement either is or is not audited and his opinion, if any, on the validity and accuracy of the report, including any facts which in his opinion tend to cast doubt on validity or accuracy in keeping with recognized principles. (b) In the event this franchise should be terminated or forfeited prior to the end of the basic fifteen (15) year term, the Grantee shall within ninety (90) days, submit to the Village, a financial statement prepared as before required showing the gross revenue of the Grantee for the time elapsed since the last period for which the Grantee has paid to the Village the required percentage of gross annual revenues. The Grantee pay to the Village not later than ninety (90) days following the termination of the franchise a like percentage of such gross revenue. (c) In the event that any payment is not made on or before the applicable date fixed in Subsections (a) and (b) hereof, Grantee shall be subject to the penalty provided for in Section 27. (d) The Village shall have the right to inspect all of Grantee's records relating to gross revenues on which the franchise fee is computed. Such right may be exercised at all times during the franchise term, during normal business hours and on at least twenty- four (24) hours advance notice to Grantee, at Grantee's place or places of business and shall include the right of full audit and recomputation. Not more often than once each year Village may require Grantee to make all such records available for audit at one office of Grantee in Cuyahoga County, or at another place mutually agreeable to Grantee and Village, and Grantee shall provide space and office facilities, excluding personnel, reasonably necessary for such audit. Alternatively, Grantee may choose, at its sole option, to pay salary or fee, travel expenses and other reasonable expenses of the auditor chosen by the Village, to make such inspection and audit at the various offices of the Grantee in the United States of America or Canada where such records are maintained. (e) Any charges for equipment improvements ordered by the subscriber not usually necessary for provision of the service for which a charge is made shall be in addition to the charges listed on Schedule A.