There is hereby imposed a franchise fee, as authorized by Section 3 of Ordinance No. 04-435, on the franchise granted to Olympic View Water and Sewer District, equal to ten percent of the gross income derived from Olympic View's carrying on the business of operating a utility system for the sale, transmission, furnishing, distribution or collection of water or sewage within the corporate limits of the Town. The amount of the fee is subject to amendment from time to time, as determined by the Town Council, provided such amendment is consistent with the requirements of said Section 3. Olympic View shall be responsible for providing the Town with any change in the rates of franchise fees paid to other governmental agencies for use of the right-of-way.
(Ord. 20-620 § 1, 2020)
The franchise fee imposed in this chapter shall be paid to the Town on or before the last day of each month following the accrual of such gross income identified in this chapter, beginning January 1, 2021. Interest shall accrue at the statutory rate on any late payment after the due date until paid.
(Ord. 20-620 § 1, 2020)