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<br /> <br /> <br /> <br /> <br /> <br /> Accounts of state sales taxes as reported by the TELEPHONE COMPANY which are <br /> <br /> performed in compliance with Sections 151.023 and 151.027 of the Texas Tax Code <br /> <br /> Annotated. The Growth Factor shall be recomputed to reflect any final, nonappealable <br /> <br /> adjustments made pursuant to an audit finding by the Texas Comptroller of an <br /> <br /> inaccuracy in the TELEPHONE COMPANY'S reports of revenues subject to state <br /> <br /> sales taxes. The Charge shall be recalculated using the Growth Factor recomputed as <br /> <br /> specified in the preceding sentence, and the recalculated Charge shall be used far all <br /> <br /> future calculations required by this Ordinance. Any overpayment or underpayment <br /> <br /> resulting from such recalculation shall be subtracted from or added to the first <br /> <br /> installment due the following year. If any overpayment or underpayment shall be due <br /> <br /> during the final year of this Ordinance, then payment shall be made as follows. In the <br /> <br /> case of overpayment by the TELEPHONE COMPANY, the CITY shall pay such <br /> <br /> overpayment to the TELEPHONE COMPANY within 150 days following the <br /> <br /> expiration of this Ordinance and, in the case of underpayment by the TELEPHONE <br /> <br /> COMPANY, the TELEPHONE COMPANY shall pay such underpayment to the <br /> <br /> CITY within 150 days following the expiration of this Ordinance. <br /> <br /> (d) Such payments shall not relieve the TELEPHONE COMPANY from paying all <br /> <br /> applicable municipally-owned utility service charges. Should the CITY not have the <br /> <br /> legal power to agree that the payment of the foregoing Charge shall be in lieu of the <br /> <br /> taxes, licenses, charges, RIGHTS-OF-WAY permit or inspection fees, rentals RIGHTS- <br /> <br /> OF-WAY easements or franchise taxes aforesaid, then the CITY agrees that it will <br /> <br /> apply so much of such payments as may be necessary to the satisfaction of the <br /> <br /> TELEPHONE COMPANY'S obligation, if any, to pay any such taxes, licenses, <br /> <br /> charges, RIGHTS-OF-WAY permit or inspection fees, rentals, RIGHTS-OF-WAY <br /> <br /> easements or franchise taxes. <br /> <br /> (e) In the event that either (1) territory within the boundaries of the CITY shall be <br /> <br /> disannexed and a new incorporated municipality created which includes such territory <br /> <br /> or (2) an entire, existing incorporated municipality shall be consolidated or annexed into <br /> <br /> the CITY, then notwithstanding any other provision of this Ordinance, the Charge shall <br /> <br /> be adjusted. To accomplish this adjustment, within thirty (30) days following the action <br /> <br /> SOU77IWES1'ERN BELL SETTI.EMENT ORDINANCE - Page 9 <br />