§ 34-40. Fee.
Each franchisee shall pay to the city, for the privilege of operating a video services system under the franchise granted pursuant to this article, a sum equivalent to five percent of the annual gross operating revenues received by it, and not refunded, in fees from service charges to subscribers located within the city, payable quarterly. This percentage figure shall be subject to review at the end of the ten-year term of the license. Nothing in this section shall exempt any franchisee from the payment of ad valorem taxes on its property or equipment or on the income earned by it or from any other tax which it might be validly obligated to pay if it were not subject to the license fee.
(Code 1970, § 6-197; Ord. No. 2007-4, § 19, 9-10-07)