12-27 PEG FACILITIES FEE.
a. Franchise holder shall pay to the City, a PEG fee equal to one (1%) percent of gross revenues which shall be exclusively used to support the operation of PEG channel facilities.
b. The City Manager shall prescribe financial accountability and reporting standards to which the City’s designated PEG facilities provider shall be subject in order to qualify for receipt of said PEG fees.
c. Franchise holders shall remit PEG fees in the same manner as franchise fees as set forth in the Chapter. Each remittance shall be accompanied by a summary detailing how the PEG support fee was calculated.
d. The PEG fee may be shown as a separate line item on the regular bill of each subscriber.
e. If a franchise holder fails to pay the PEG support fee when due, or underpays the proper amount due, the franchise holder shall pay interest at the rate per year equal to the highest prime lending rate during the period of delinquency, plus one (1%) percent of the maximum rate specified by State law. (Ord. #2012-151)