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Agenda - Council - 11/22/2016
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Agenda - Council - 11/22/2016
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Meetings
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Agenda
Meeting Type
Council
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11/22/2016
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there has been an overpayment by the Grantee, the Grantee may credit any <br /> overpayment against its next quarterly payment. <br /> 8.3.4 In the event any franchise fee payment or recomputation amount is not made on or <br /> before the required date,the Grantee shall pay, during the period such unpaid amount <br /> is owed, the additional compensation and interest charges computed from such due <br /> date, at an annual rate of ten percent(10%). <br /> 8.3.5 Nothing in this Franchise shall be construed to limit any authority of the City to <br /> impose any tax, fee or assessment of general applicability. <br /> 8.3.6 The franchise fee payments required by this Franchise shall be in addition to any <br /> and all taxes or fees of general applicability. The Grantee shall not have or make <br /> any claim for any deduction or other credit of all or any part of the amount of said <br /> franchise fee payments from or against any of said taxes or fees of general <br /> applicability, except as expressly permitted by law. The Grantee shall not apply nor <br /> seek to apply all or any part of the amount of said franchise fee payments as a <br /> deduction or other credit from or against any of said taxes or fees of general <br /> applicability, except as expressly permitted by law. Nor shall the Grantee apply <br /> or seek to apply all or any part of the amount of any of said taxes or fees of general <br /> applicability as a deduction or other credit from or against any of its franchise fee <br /> obligations, except as expressly permitted by law. <br /> 8.3.7 To the extent Grantee or its affiliates, including any affiliate owning all or part of <br /> the System, receives revenues for the provision of a discounted bundle of services <br /> that includes both Cable Services and non-Cable Services, such revenues shall be <br /> included in Grantee's Gross Revenues using a Generally Acccepted Accounting <br /> Principles methodology that allocates revenue on a pro rata basis when comparing <br /> the bundled service price and its components to the sum of the published rate <br /> card, except as required by specific federal, state or local law (for example, it is <br /> expressly understood that equipment may be subject to inclusion in the bundled <br /> price at full rate card value). Such allocations shall be subject to review and <br /> challenge by the Commission or City. <br /> Grantee reserves the right to change the allocation methodologies set forth in this <br /> section in order to meet the standards required by governing accounting principles <br /> as promulgated and defined by the Financial Accounting Standards Board <br /> ("FASB"), Emerging Issues Task Force ("EITF") and/or the U.S. Securities and <br /> Exchange Commission ("SEC"). Grantee will give the Commission written <br /> notice of any such changes and Grantee shall, upon request or as part of any audit <br /> or review of franchise fee payments, document the change in allocation <br /> methodology. <br /> Resolution of any disputes over the classification of revenue should first be <br /> attempted by agreement of the Parties. The Commission and City reserve the <br /> right to challenge Grantee's calculation of Gross Revenues, including the <br /> interpretation of GAAP as promulgated and defined by the FASB, EITF and/or <br /> the SEC. <br /> 8.4 Access to Records. <br /> 33 <br /> 48923242 RJV QU210-6 <br />
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