744-00 Renew FSN Cable TV Franchise

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from the operation of the Cable Television System to provide Cable Service. Such payment will be considered timely if received by the City within thirty(30) days from the end of the previous quarter. B. The Grantee shall file with the City, within thirty (30) days after the expiration of each of the Grantee's fiscal quarters, a financial statement clearly showing the Gross Revenues of the Grantee during the preceding quarter, and shall simultaneously tender payment of the quarterly portion of the franchise fee. The Grantee shall file,within one hundred twenty(120)days following the conclusion of the Grantee's fiscal year, an annual certified audit prepared and reported by a Certified Public Accountant acceptable to the City, clearly showing the yearly total Gross Revenues in accordance with Generally Accepted Accounting Principles as required herein. C. The City shall have the right, consistent with the provision of Section 3.2(C),to inspect during normal business hours the Grantee's income records, the right of audit and the right to the recomputation of any amounts determined to be payable under this ordinance. The Grantee shall maintain its books and records within a forty- five (45) mile radius of the City of Zephyrhills' City Hall, or provide these books and records to the City Clerk of the City of Zephyrhills within thirty(30) days of the City's written request. If books and records are not provided to the City at City Hall within thirty (30) days, the City shall conduct the inspection and audit at Grantee's place of business and Grantee shall bear all costs of said audit. Any additional amount due the City as a result of the audit, including interest at the rate set forth in Section 2.65(F) shall be paid within thirty(30)days following written notice to the Grantee by the City which notice shall include a copy of the audit report. D. The Grantee shall ensure,through contract or other arrangement, that any Person other than the Grantee who collects from Subscribers of Cable Service amounts that would constitute Gross Revenues if received directly by the Grantee is required to remit to the City quarterly a percentage of such amounts collected which is equal to the then-applicable franchise fee. Such contract or arrangement must also require the Person to submit reports which meets the requirements of Section 2.5(B) and must entitle the City to enforce the fee and reporting requirements directly against the Person. E. In the event that any franchise fee payment is not made on or before the applicable dates heretofore specified, interest shall be charged from such due date at the maximum rate allowed by law or one and one-half percent (1-1/2%) per month, whichever is less. For recomputed or audited amounts, interest thereon shall be calculated, at the rate described in the preceding sentence, from the date the payment that is the subject of the recomputation or audit was originally due the City or for such lesser period of time as may be required by law.