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<br />than five per cent of the gross annual receipts derived <br /> <br />from the use of the franchise, which percentage shall be <br /> <br />set forth in the ordinance awarding the franchise, and such <br /> <br />payment by the grantee to the City shall be in addition to <br /> <br />any occupation tax, license tax or similar levy imposed by <br /> <br />the City of Redwood City, and shall be paid annually. <br /> <br />"The grantee shall file with the City, within sixty (60) <br /> <br />days after the expiration of any calendar year, or such other <br /> <br />annual period as may be determined by the City Manager, during <br /> <br />which such franchise is in force, a financial statement pre- <br /> <br />pared by a certified public accountant showing in detail the <br /> <br />total gross receipts, as defined herein, of grantee, its <br /> <br />successors or assigns, during the preceding calendar year. <br /> <br />It <br /> <br />shall be the duty of the grantee to pay to the City, within <br /> <br />fifteen (15) days after the time for filing such statement, <br /> <br />the amount due to the City as an annual franchise fee in <br /> <br />accordance with this article and the franchise agreement. <br /> <br />"The City shall have the right to examine grantee's books <br /> <br />and records to determine gross receipts." <br /> <br />SECTION 3. <br /> <br />Section 11.87 of the Code of the City of Redwood <br /> <br />City is hereby amended to read as follows: <br /> <br />"Section 11.87. <br /> <br />"(a) <br /> <br />" (b) <br /> <br />"(c) <br /> <br />All matters herein provided to be filed with the <br />City shall be filed with the City Clerk. <br /> <br />If grantee should fail to operate its system for <br />a period of nine months from the date such service <br />begins, the subscribers who have paid installation <br />charges shall be entitled to a refund of the <br />installation charges less one-ninth of each charge <br />for each month elapsing from the time service was <br />first started to that subscriber and during which <br />time service was available to him. <br /> <br />The rate schedule for any service agreement or <br />increase thereto to subscribers shall be filed by <br />the grantee with the City Clerk. No rates or <br />charges other than those specified in such rate <br />schedule shall be made by the grantee. At least <br />30 days prior to the effective date of any adjust- <br />ments to rates or charges, the grantee shall file <br /> <br />-2- <br />