The grantee shall file the following reports
with the city:
A. An annual report setting forth the physical miles
of plant construction and plant in operation during the fiscal year
shall be submitted to the city. Such report shall also contain any
revisions to the system as-built maps filed with the city. The annual
report shall be provided in February.
B. The grantee shall submit to the city the required
performance bond, or a certified copy thereof, and written evidence
of payment of required premium and all policies of insurance required
by this chapter, or certified copies thereof, and written notice of
payment of required premium.
C. The following financial reports for the franchise
area shall be submitted annually to the city 90 days after the end
of the grantee's fiscal year:
(1) An ownership report indicating all persons who at
any time during the preceding year did control or benefit from an
interest in the franchise of 10% or more.
(2) An annual and certified income statement from the
previous calendar year, including subscriber revenue from each category
of service.
(3) An annual list of officers and members of the board
of grantee and of any parent corporation.
D. The grantee shall prepare and furnish to the city
at the times and in the form prescribed such additional reports with
respect to its operation, affairs, transactions or property as may
be reasonably necessary and appropriate to the performance of any
of the rights, functions or duties of the city in connection with
this chapter or the franchise.
All revenues received by the city as a result
of this Telecommunications Ordinance shall be utilized as follows:
A. Fifty percent of those revenues shall be deposited
into the city's General Fund.
B. Fifty percent of those revenues shall be deposited
into a separate fund account entitled "building maintenance account."
The funds in the building maintenance account shall be used for the
repair and maintenance of city-owned properties.