§ 13-150. Cable television company.

(a)

The grantee shall pay to the franchising authority a franchise fee equal to five (5) percent of gross revenues received by the grantee from the operation of the cable system to provide cable services. All payments of franchise fees shall be made on a quarterly basis, not later than forty-five (45) days after the last day of each March, June, September and December. Each payment shall be accompanied by a brief report from a representative of the grantee showing the basis for the computation, and certification that the calculation of the payment is in accordance with the terms of the franchise agreement and is believed to be accurate.

(b)

The period of limitation for recovery of any franchise fee payable hereunder shall be five (5) years, or, the time from the most recent audit of franchise fee payments conducted by the city, whichever is less from the date on which payment by the grantee is due. Unless the franchising authority initiates a lawsuit for recovery of such franchise fees in a court of competent jurisdiction, within five (5) years from and after such payment due date, such recovery shall be barred and the franchising authority shall be estopped from asserting any claims whatsoever against the grantee relating to any such alleged deficiencies.

(Ord. No. 19-88, § 9, 4-5-88; Ord. No. 93-89, 11-21-89; Ord. No. 3-90, 1-2-90; Ord. No. 53-03, § 4, 7-15-03; Ord. No. 79-17, § 5, 12-19-17)