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Company agrees to pay to the City annually during the continuance
of this agreement a sum of money equal to two ocrcent (2%)
of the annual gross receipts for the preceding year received by the
Telephone Company from the rendition to subscribers located within
the corporate limits (bf the City of local exchange and extended area
telephone transmission service. The first payment hereunder shall
be made , and shall equal in amount to tt.,,o percent
(2��) of the gross receipts received from the date
of passage of this ordinance to
and thereafter payment shall be made annually on Idarch 31st, Ls herein
provided.
SECTION 3. PAY',rENT OF CASHCO TQIT;EI?.ITION T O 'E TN LIEU OF ATTY OTHER
I> Ar rr S ," 'EEPT LT:-U:1L L'1 '=`L.'.L 0� SP"'I:"L Ai;D VALORE'.i TIES
That the City agrees that the consideration set forth in the
preceding section hereof shall be paid and received in lieu of any tax,
license, charge, fee, street or alley rental or any other character
of charce for use and occupancy of tie streets, alleys, and public
places of the City; in lieu of any pole ta:� or inspection fee tax, in
lieu of any easement or franchise tax, whether levied as an ad vI-A orem,
special or other character of tax; and in lieu of any imposition other
than the usual general or special ad valorem taxes now or hereafter
levied. Should the City not have the legal power to agree that the
payment of the fore;-,oing cash consideration shall be in lieu of the
taxes, licenses, charges, fees, rentals, and e,•.isement or franchise
taxes aforesaid, then the City agrees that it will apply so much of
said payment as may be necess-:ry to the satisfaction of the Telephone
Company's obligations, if any, to pay any such taxes, license -"j
charges, fees, rentals, and easement or franchise ta=res.
"rrTION 9. DELE 1.17"TCIT OF :,LTTTiORITY
That the City may delegate to a designated official or
officials the exercise of any and all of the powers conferred upon
the City hereby or by applicable St--te statutes and law which relate
to the supervision and retulation of the Telephone Company in its
4.