§ A226-10. Franchise fee.

A. 

Pursuant to the terms and conditions of the Cable Television Act, the company shall pay to the Township, as an annual franchise fee, a sum equal to 2% of the actual gross revenues received from all recurring charges in the nature of subscription fees paid by subscribers for its cable television reception services in the Township. In the event applicable law hereinafter permits a larger franchise fee to be collected, but does not fix the amount thereof, the Township and the company shall negotiate in good faith with respect to the amount thereof.

B. 

The company shall, on or before the 25th day of January each year, file with the Chief Financial Officer of the Township a verified statement showing the gross subscriber revenues received from the cable television reception service within the Township and shall at the same time pay thereon to said Chief Financial Officer the two-percent charge hereby imposed as a yearly franchise revenue for the use of the streets.