Agenda - Council - 07/22/2003 - Laserfiche WebLink

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reimburse each company for the cost of the franchise fee, but such surcharge shall be separately stated .on energy bills' to customers within the City. The time and manner of collecting the franchise fees is subject to the mutual agreement of the City Council and the Utilities Board of Directors or Commission, which each company agrees to use it best efforts to obtain. The initial franchise fee imposed by this ordinance shall be in the amount of the percentage set forth below on that portion of gross revenues derived from sales to each company's customers based on the billing months for the applicable calendar quarter. Commercial and Industrial Customers -4.5 % Residential Customers -4.5 % Institutional Customers -4.5 % The franchise fee may be changed from time to time by resolution of the City Council but not more often than annually. All changes in the franchise fee must comply with the notice' provisions of Section 4 hereof. Term. The franchise fee shall be paid to the City during the term of the franchise granted to each company, and in lieu of any permit or other fees relating to the repair, maintenance and operation of the companies facilities being imposed on the companies by the City. Collection. The franchise fee shall be paid to the City at least quarterly and shall be based, on gross revenues of each company for complete billing months in the calendar quarter for which payment is made. The franchise fee is payable on or before the last day of the calendar month folio_wing the end of each quarter. Payments are due by January 31, April 30, July 31, and October 31. SECTION 3. REPORTING REQUIREMENTS. Each company shall file annually with the City a report showing energy consumption and revenues by classes of service contained in Section 2 for the preceding year, and containing such further information as may be agreed to by the City and each company, based upon each company's operations within the City. The City may at its option, not more than once a year, require that the collection and disbursement of franchise fees be verified by a certified audit at the expense of the City. Each company shall use its best efforts to monitor sales and consumption of energy to estimate the effect of franchise fee percentage rates on such sales and consumption; and each company and the City may meet annually to discuss the results of such studies and other matters of mutual concern regarding the franchise fee. In addition, each company agrees to make its gross revenues records available for inspection by the City at reasonable times. ORDINANCE #03- -103-