Any grantee granted a franchise under this chapter shall pay to the city, during the life of such franchise and at the times specified in this chapter, an agreed upon percentage of the monthly total gross receipts of the grantee.

Such payment by the grantee to the city shall constitute a fee in lieu of any occupation tax, license tax or similar levy and shall be paid monthly or as directed by the city.

The grantee shall file with the city, within thirty days after the expiration of any calendar year during which such franchise is in force, a financial statement prepared by a certified public accountant showing in detail the total gross receipts, as defined herein, of the grantee, its successors or assigns during the preceding calendar year. It is the duty of the grantee to pay to the city within fifteen days after the time for filing such statements, any unpaid balance for the calendar year covered by such statements.

The city has the right of inspection of the grantee’s records showing its gross receipts. (Ord. 1595 NCS §8, 1984; Ord. 1515 NCS §1, 1982; Ord. 757 NCS §5; prior code §9A.6.)