(1) In consideration of the franchise granted by this chapter, the franchisee shall pay the City from and after the 9th day of August, 2005, an amount equal to five percent per year of the gross revenue from collection service provided to residents and persons within the City. For the purpose of determining the franchise fee, uncollectible debts shall be deducted in computing gross revenue.

(2) The franchise fee required by this section shall be due for each calendar year on a quarterly basis, and payments are to be made within 30 days of the end of each calendar quarter.

(3) The franchisee shall furnish to the City with each payment of franchise fee required by this section, a written statement, under oath, and executed by an officer of franchisee, showing the amount of gross revenue of the franchisee within the City for the period covered by the payment, computed on the basis set out in subsection (1) of this section. If the franchisee fails to pay the entire amount of compensation due the City through error or otherwise, the difference due the City shall be paid by the franchisee within 15 days from discovery of the error or determination of the correct amount. Any overpayment to the City, through error or otherwise, shall be offset against the next payment due from the franchisee.

(4) Acceptance by the City of any payment due under this section shall not be deemed to be a waiver by the City of any breach of this franchise occurring prior thereto, nor shall the acceptance by the City of any such payments preclude the City from later establishing that a larger amount was actually due or from collecting any balance due to the City. (Ord. 98 § 9, passed 8-9-2005)