§ 12-95. Franchise fee.

(a)

The grantee shall pay to the franchising authority a franchise fee of one percent of annual gross revenues (as defined in section 12-78). In accordance with the Cable Act, the 12-month period applicable under the franchise for the computation of the franchise fee shall be a calendar year. The franchise fee payment shall be due annually and payable within 90 days after the close of the preceding calendar year. Each payment shall be accompanied by a brief report prepared by a representative of the grantee showing the basis for the computation.

(b)

Limitation on franchise fee actions. The period of limitation for recovery by the franchising authority of any franchise fee payable hereunder shall be three years from the date on which payment by the grantee is due to the franchising authority.

(Prior Code, § 155.18)