§ 15-46. Franchise fee.

(a)

The grantee shall pay to the county, in consideration of the franchise, five percent of its annual gross subscriber revenues during the period of its operation under the franchise.

(b)

The grantee shall file with the county, within 45 days after the expiration of each of the grantee's fiscal quarters, a financial statement clearly showing the gross subscriber revenues received by grantee during the preceding quarter. Payment of the quarterly portion of the franchise fee shall be due to the county at the time such statement is filed.

(c)

Within 12 months after the close of each of the grantee's fiscal years, the county shall have the right at its sole cost to inspect the grantee's income records and audit any amounts determined to be payable under this article. Any additional amount due the county as a result of the audit shall be paid within 30 days following written notice to the grantee by the county. The written notice shall include a copy of the audit report. The cost of the audit shall be borne by the grantee if it is properly determined as a result of the audit that the actual amount due exceeds the payment by more than five percent.

(d)

If any franchise payment or recomputed amount is not made on or before the date due, the grantee shall be assessed a penalty of five percent of the amount due, and interest at the annual rate of eight percent.

(e)

If the franchise is terminated prior to its expiration date, the grantee shall file with the county, within 45 days of termination, a financial statement clearly showing the gross subscriber revenues received by grantee since the end of the previous fiscal quarter. The grantee shall pay the franchise fee due at the time such statement is filed.

(Code 1978, § 7-6)

(Code 1978, § 7-6)