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<br />Section 5. <br /> <br />Franchise term. <br /> <br />The Franchise granted pursuant hereto shall commence on the effecti ve date of this ordinance <br />and shall terminate fifteen (15) years thereafter. <br /> <br />Section 6. <br /> <br />(a) <br /> <br />(b) <br /> <br />(c) <br /> <br />Section 7. <br /> <br />Grantee's acknowledgment of City's police powers: compliance with laws and <br />regulations. <br /> <br />Grantee shall comply with all applicable codes, rules, regulations and laws, including <br />the Charter of the City of Sunny Isles Beach, as they presently exist, and, as they may <br />be subsequently amended or created. <br /> <br />Nothing in this ordinance shall be construed as a surrender by the City of its right or <br />power to pass ordinances regulating the use of its streets. <br /> <br />This Franchise does not obviate or modify the provisions of section 337.401(2), <br />Florida Statutes (1995) which requires Grantee to obtain authorization by written <br />permit issued by the City and other governing authorities which have jurisdiction <br />over any street for the installation, location or relocation of Grantee's facilities. The <br />provisions of that section of state law are incorporated in this Franchise by this <br />reference and such provisions shall be applicable for the duration of the term of this <br />Franchise. <br /> <br />Franchise fee: payment to City: annual certified statement required: late charges: <br />delinquency: extensions: inspection of Grantee's records. <br /> <br />(a) Grantee shall pay Franchise fees to the City during the term of the Franchise as <br />consideration for, .and as a condition of, the grant to Grantee of the non-exclusive right to occupy <br />municipal streets and rights-of-way for the construction, operation and maintenance of Grantee's <br />facilities. The Franchise fee shall be calculated as an amount of money which, when added to the <br />amount of all ad valorem and other taxes, and all permit fees, levied or assessed by or on behalf of <br />the City upon the Grantee, its properties, or its operations within the City limits, is equal to six <br />percent (6%) of the gross receipts of Grantee, as defined in section 4(f) of this Franchise Ordinance, <br />received by Grantee in each month. Such fee shall be based upon a statement as described in <br />subsection (e) of this section which shall be forwarded to the City. Payment of the Franchise fees <br />shall be in addition to any other tax or payment owned or paid to the City by Grantee. <br /> <br />Such Franchise fee shall be due and payable by Grantee on a monthly basis within thirty (30) days <br />after the last day of each month. <br /> <br />(b) In the event any monies due and owing under section 7(a) above are not timely paid <br />as specified therein, and no extension as described in section 7(d) has been granted, the City may <br />impose and the Grantee agrees to pay, a late charge equal to one point five percent (1.5%) per month <br /> <br />Teco Peoples' Gas (F) <br /> <br />-3- <br />