Ordinance No. 20170 - Laserfiche WebLink

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revenue to City, so long as the Code allows payment of the higher percentage. Payment shall be made within forty-five X45}days following the end of each quarter of each calendar year. V`lithin forty-fve ~45~ days after the termination of this franchise, compensation shall be paid for the period elapsing since the close of the last quarter for which compensation has been paid. Upon thirky days' written notice by either party to the other, the basis far calculation of the franchise fee, the def ninon of gross revenues and other terms of this franchise shall be subject to renegotiation and redetermination atthe end of the first three- yearperiod ofthe franchise term and again at the end of each five-year period thereafter during the franchise term. The principles governing the renegotiation shall include, but not necessarily be limited to, making the franchise consistent with federal, state and local law in effect at the time of the renegotiation. Section 1 ~. Re orts b Com an . Company shall furnish to City with each quarterly payment of compensation a statement by an officer of Company showing the amount of gross revenues of Company for the quarter covered by the payment, computed on the basis set forth in Section 10, and the calculation of the payment for the quarter, including a description of and the amount for each exclusion from gross revenue, as allowed under Section 10. The books and records showing Company's gross revenues from the gas sales referred to in Section 10 shall always be open to inspection by City's Finance officer, or by any other authorized representative of City for the purpose of ascertaining the amount payable to City under Section 10, or to verify any statement or report submitted by Company pursuant to the provisions of this Section. City, or its authorized representative, shall have the right to audit Company's books and records to verify that the franchise fee has been correctly calculated and paid by Company. Company shall reimburse City for the reasonable costs of such audit if the audit discloses that Company has paid 95°/0 or less of the fee owing for the period of the audit. Company shall, upon request, furnish to City a list of all customers within the corporate limits of City who have contracted with Company for transportation and delivery of natural gas separate from the purchase of natural gas. This report shall include the names of all such customers and the volume of gas which was transported by Company on behalf of each customer for the period covered by the report. Section 12. Com an to Pa All Cit Taxes and Fees. Nothing contained in this franchise shall give Company any credit against any non- discriminatorybusiness tax oral valorem propertytax now or hereafter levied against real or personal property within City, or against any local improvement assessment imposed on Company, or against any permit fees or inspection fees required by the construction codes or other ordinances of City which are or may hereafter be adopted. Section ~ 3. Valuation for Eminent Domain. In the event City should desire to acquire the property of Company in City and ordinance W 4