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<br /> <br /> <br /> <br /> <br /> <br /> appeals therefrom to the courts to the extent such costs are <br /> <br /> tound reasonable by the applicable regulatory authority. <br /> Section 10. In consideration for the rights and <br /> <br /> privileges herein granted, the value of such rights and <br /> <br /> privileges, the administration of this ordinance by the CITY, the <br /> usage and interference with the public's usage of public <br /> <br /> thoroughfares and other costs and obligations undertaken by the <br /> <br /> CITY herein, PCI hereby agrees to pay the CITY during the term of <br /> <br /> this ordinance a sum equal to three to five (3-5'/0) of annual <br /> gross receipts as herein defined as follows: three percent (3'/0) <br /> <br /> for the first year; four percent (4%) for the second, third and <br /> <br /> fourth years; and five percent (5%) for the fifth and subsequent <br /> years. <br /> <br /> Such fee payment sha11 be made in five (5) payments. The <br /> <br /> first four (4) payments shall be made on April 15, July 15, <br /> October 15, and January 15, and shall be estimated at 25% of the <br /> <br /> prior year's gross receipts as herein defined. The fifth payment <br /> <br /> shall be a true-up payment to reflect the actual gross receipts <br /> <br /> for the entire year and will be made on April 15 of the following <br /> year and will include the first (April 15) payment for the then <br /> <br /> current year. PCI will file with the fifth payment to the CITY a <br /> <br /> financial statement prepared according to generally accepted <br /> accounting principles showing in detail the applicable gross <br /> <br /> receipts collected by category hereafter specified during the <br /> <br /> preceding calendar year. <br /> <br /> PCI sha11 maintain and shall make available for audit by the <br /> CITY, upon reasonable notice, all necessary accounts and records <br /> <br /> reflecting the amounts of and basis for computation of all gross <br /> <br /> receipts within the CITY and each category thereof. All such <br /> accounts and records shall be kept according to generally <br /> <br /> accepted accounting principles and PCt shall provide within a <br /> <br /> reasonable response time all information reasonably requested by <br /> <br /> CITY to ascertain the amount of such gross receipts within the <br /> CITY. "Gross receipts" shall mean all revenues collected by PCI <br /> <br /> for telecommunications and communications services and related <br /> <br /> services provided by PCI, its affiliates, successors, or assigns, <br /> -8- <br />