City Council Study Session Agenda and Packet 2004 10 12

Home Browse Search

DRAFT CITY OF LOUISVILLE ORDINANCE valuable right, the Company shall pay the City a sum equal to three percent (3 %) of all Revenues, excluding revenues received from the City for the sale of Qas electricity. and street lighting service to the City, . [COVERED IN §3.2] §3.2 Surcharge of Franchise Fees. The Company shall be permitted to surcharge to Residents the franchise fee payments it makes to the City. No franchise fee shall be charged to the City or its Residents for street lighting service or for gas or electric service provided to the City for the City's own use or consumption. §3.3 Remittance Schedule. Franchise fees that are collected from Residents shall be remitted by the Company to the City in monthly installments not more than thirty (30) days following the close of each month. All payments shall be made to the Director of Finance. In the event that either the City or the Company discovers that there has been an error in the calculation of the franchise fee payment to the City, the error shall be corrected in the next monthly payment, subject to the following provisions: In the event an error by the Company results in an overpayment of the franchise fee to the City in excess of $5,000, credit for the overpayment shall be spread over the same period the error was undiscovered; if. the overpayment is $5,000 or less, credit shall be taken against the next payment. In no event shall either Party be required to refund any over- or underpayment more than three (3) years from the date of the over- or underpayment. §3.4 Audit Rights; Protection of Confidential Information. The Finance Director, or his or her agent, shall have access to the metering records of the Company during normal business hours upon reasonable notice for the purpose of auditing to ascertain that the franchise fee has been correctly computed and paid. Except as provided in Section 3.6, and except for such disclosures as maybe required by law, all information obtained by the Finance Director during a franchise fee audit shall be kept confidential and shall be utilized for the sole purpose of verifying that the franchise fee has been correctly computed and paid. DPS \56925 \478939.02 -4- -1 Deleted: gas [ Deleted: and ......... ............................... Deleted: Deleted: