96-088 Ordinance - Laserfiche WebLink

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GRANTEES of cable television Franchises within the City) of the annual Gross . ...Revenues of the GRANTEE. :The.aforementioned.payment shall be. made to,fhe. City. throughout the life of the Franchise. The GRANTEE shall file with City within (45) forty-five days after the expiration of each of the GRANTEE's this fiscal quarters a revenue statement containing a satisfactory and clear explanation, which shows in detail the gross revenues of the GRANTEE during the proceeding quarter. !f the Federal Communication Commission (FCC), Congress or other governmental entity with authority over multi-channel service ever allows a governmental entity or Issuing Authority to increase the Franchise Fee beyond five (5%) percent, then the Issuing Authority shall have the authority, with ninety (90) days notice, to increase the franchise fee to the maximum rate allowable if the Issuing Authority has and exercises the authority to similarly and simultaneously increase the franchise fee imposed on atl cable television franchisees operating within the Franchise Area. Payment reflecting the quarterly portion of the franchise fee shall be rendered to the City at the same time the required revenue statement is filed. B. The GRANTEE shall also file, within (90) ninety days following the conclusion of each fiscal year of the Agreemenf, an annual report prepared and audited by and officer of the GRANTEE showing the total gross revenues. This required financial statement shall confain a satisfactory and clear explanation including detailed within footnotes, which show in detail the total gross revenues of the GRANTEE. This annual report shall also satisfactorily detail any and all franchise payments made to the City for the total annual period of time and any further relevant financial information with regard to the GRANTEE as may be reasonably required by the Mayor. C. In the event this franchise should be revoked, terminated or forfeited prior to the end of the term of this franchise, the GRANTEE shall submit to the city a financial statement providing a satisfactory and clear explanation showing in detail the total gross revenue of the GRANTEE for the period of time which has elapsed since the last quarter for which the GRANTEE has paid to the City the required franchise fee payment percentage of gross annual revenues. The GRANTEE shall provide such required financial statement within thirty (30) calendar days following the revocation, termination or forfeiture of the franchise. The GRANTEE shall pay to the City at the same time such similar statement is required, all franchise fees due and owing to the city, along with any other funds not considered a franchise fee as defined herein, which are due and owing to the City. D. The term "FRANCHISE FEE" for the purpose of the Agreement does not include -)7