2000 038 Ordinance - Laserfiche WebLink

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ORDINANCE NO. 2000- PAGE 16 (d) In the event that any franchise fee payment or recomputed amount is not made on or before the dates specified in the franchise agreement, Grantee shall pay as additional compensation an interest charge, computed from such due date, at an annual rate equal to the prime lending rate plus one and one-half percent during the period forwhich payment was due. (e) In the event any payment is not received within 30 calendar days from its due date, Grantee shall further be assessed an additional amount with regard to such nonpayment of $100 per day for every day payment is not received. In the event any payment is not received within 75 calendar days from its due date, Grantee shall be assessed an additional amount with regard to the nonpayment of $500 per day for every day payment is not received. Grantee's liability for such amount in such cases shall not be subject to but shall be in addition to the remedies set forth in §945.27 herein for franchise violations and may be taken from the Performance Bond in accordance with §945.22 herein. (f) Franchise fee payments shall be made in accordance with the schedule indicated in the franchise agreement and shall be accompanied by a report in summarized form of Grantee's gross revenues during the period and the computation of the payment amount upon which revenues shall be listed by category, including but not limited to subscription revenues (such as basic and pay services), nonrecurring revenue (such as pay- per-view), and nonsubscriber revenues. (g) Grantor represents that it is its intention to be able to charge up to the maximum amount of franchise fees allowed by law which is presently set at five percent. This maximum may be amended during the term of the franchise by any higher maximum amount that may be set by FCC regulations or the Cable Act as the same may be amended from time to time. Grantor may change the percentage to be set forth in the franchise agreement by ordinance or resolution and written notice to Grantee. Grantee shall implement the change within 30 days of written notice of the same by Grantor. (h) No term or condition in this chapter or the franchise agreement shall in any way modify or affect the Grantee's obligation to pay franchise fees. Although the total sum of franchise fee payments and additional commitments set forth elsewhere in this chapter or the franchise agreement may total more than the maximum allowable franchise fees alone based upon the percentage of Grantee's gross revenues in any 12-month period, Grantee agrees that these additional commitments are not to be considered franchise fees as defined under any federal law, nor are they to be offset or credited against any franchise fee payments due to the Grantor, nor do they represent an increase in franchise fees to be itemized as such on the subscriber's bill.