§ 11. Payment to the city.

Latest version.

The grantee shall pay to the city annually an amount equal to five percent of the annual gross operating revenues taken in and received by it on all operations within the city. The total annual payments shall be not less than $500.00 per year from the date of acceptance of said franchise and shall be in lieu of other fees or assessments imposed by the city, except charges for special services as provided in section 26(f) and occupation, income, license and real and/or personal property taxes. This payment shall be made quarterly, and each quarterly payment shall be made within 60 days following the close of the fiscal quarter of the grantee. The fiscal year of the grantee under said franchise shall be the same as the fiscal year of the grantee for payment of income taxes to the United States of America and the State of Indiana.

(Ord. No. 5-98, § V, 3-16-98)

                    
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