Part 3 — FEES

A.

Each state video franchise holder shall pay to the city a franchise fee that is equal to five percent of its gross revenues.

B.

The franchise fee shall be due to the city and paid to the director of finance in accordance with DIVCA.

C.

If the state video franchise holder does not pay the franchise fee when due, the state video franchise holder shall pay the city a late payment charge at a rate per year equal to the highest prime lending rate during the period of delinquency plus one percent.

(Ord. 28530.)

A.

Each state video franchise holder shall pay to the city a fee that is equal to one percent of its gross revenues.

B.

The PEG fee shall be due to the city and paid to the city's director of finance in accordance with DIVCA.

C.

If the state video franchise holder does not pay the PEG fee when due, the state video franchise holder shall pay the city a late payment charge at a rate per year equal to the highest prime lending rate during the period of delinquency plus one percent.

(Ord. 28530.)

State video franchise holders shall pay the franchise fees separately from the PEG fees referenced in this part to the city. Payment may be made in the form of a check or by other means approved by the city's director of finance.

(Ord. 28530.)