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SECTION 9. Company, its successors and assigns, agrees to
<br />pay and City agrees to accept, on or before the 13th day of July,
<br />1968, and on or before the same day of each succeeding year during
<br />the life of this franchise, up to and including the year 1992, a
<br />sum of money which shall be equivalent to two percent (2%) of the
<br />gross receipts received by Company from the sale of all gas within
<br />the corporate limits of said City for the preceding calendar year,
<br />which annual payment shall be for the rights and privileges herein
<br />granted to Company including expressly, without limitation, the
<br />right to use the streets, alleys and public ways of said City.
<br />And it is also expressly agreed that the aforesaid annual payment
<br />shall be in lieu of any and all other and additional occupation
<br />taxes, easement and franchise taxes, or charges (whether levied as
<br />an ad valorem, special or other character of tax or charge), in
<br />]ieu of municipal license and inspection fees, street taxes--axld
<br />street or alley rentals or charges, and all other and additional
<br />municipal taxes, charges, levies, fees and rentals of whatsoever
<br />kind and character which City iiay impose or hereafter be authorized
<br />to levy and collect, excepting only the usual general or special
<br />ad valorem taxes, which City is authorized to levy and impose upon
<br />real and personal property. Should City not have the legal power
<br />to agree that the payment of the foregoing sums of money shall be
<br />in lieu of taxes, licenses, fees, street or alley rentals or
<br />charges, easement or fxanchise taxes or charges aforesaid, then
<br />City agrees that it will apply so much of sai d sums of money paid
<br />as may be necessary to satisfy Company's obligations, if any, to
<br />pay any such taxes, licenses, charges, fees, rentals, easement or
<br />franchise taxes or charges.
<br />In order to determine the gross receipts received by Company
<br />from the sale of gas within the corporate limits of City, Company
<br />agrees that on the same date that payments are made as provided in
<br />the preceding paragraph of this Section 9, it will file with the
<br />City Clerk a sworn report showing the gross receipts receiv ed from
<br />the sale of all gas within said corporate limits for the calendar
<br />year preceding the date of payment. City may, if it sees fit,
<br />have the books and records of Company examined by a representative
<br />of said City to ascertain the correctness of the sworn xeports
<br />agreed to be filed herein.
<br />SECTION 10. The franchise granted herein shall be subject to
<br />the valid provisions of Section 122 of the Charter of the City of
<br />Yaris and other applicable valid sections therein, which are hereby
<br />incorporated by reference and expressly made a part hereof, the
<br />same as if copied verbatim.
<br />SECTION 11. Thiscfranchise ordinance shall not change the
<br />Company's rate or charge currently in effect within the city limits
<br />of Paris, Texas. The rates currently charged by Company may be
<br />changed and amended at any time by either the City or Company fur•»
<br />nishing gas in the manner prov:ided by law.
<br />SECTION 12, This franchise ordinance shall be considered
<br />effective sixty (60) days from and after the date of its final
<br />passage and approval by the City Council and the Mayor of the City
<br />of Paris and shall cancel, repeal, supersede, nullify, take the
<br />place and be in lieu of that certain franchise ordinance No. 1090
<br />passed and approved on July 13, 1942, recorded in Ordinance Book
<br />5, page 231 of the City of Paris, and being styled:
<br />
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