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WHK:yc:3/6/67 ORDINANCE N O. I~~ AN ORDINANCE AMENDING SE CTIONS 11.74 AND 11.75 OF CHAPTER 11 OF THE CODE OF THE CITY OF REDWOOD CITY RELATING TO CATV FRANCHISES THE COUNCIL OF REDWOOD CITY DOES ORDAIN AS FOLLOWS: SECTION 1. Section 11.74 of the Code of the City of Redwood City is hereby amended to read as follows: Any grantee granted a franchise under "Section 11.74 this article shall pay to the City, during the life of such franchise, and at the times hereinafter specified, at least two per cent of the gross annual receipts derived from the use of the franchise, which percentage shall be set forth in the ordinance awarding the franchise, and such payment by the grantee to the City shall be in addition to any occupation tax, license tax or similar levy imposed by the City of Redwood City, and shall be paid annually. "The grantee shall file with the City, within 60 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 grantee, its successors or assigns, during the preceding calendar year. It shall be the duty of the grantee to pay to the City, within 15 days after the time for filing such statement, the amount due to the City as an annual franchise fee in accordance with this article and the franchise agreement. In any calendar year during which payments to the City under this section would amount to less than Twelve Hundred Dollars, grantee agrees to pay to the City the minimum amount of Twelve Hundred Dollars as his annual franchise fee. "The City shall have the right to examine grantee IS books and records to determine gross rece ipts."