§ 25.22. Books and Records.

A.

Grantee shall, (1) within thirty (30) days following the acceptance of a Franchise, (2) at least yearly thereafter, and (3) within thirty (30) days of the change of ownership of ten percent (10%) or more of the outstanding stock or equivalent ownership interest of a Grantee, furnish the City a list, showing the names and addresses of Persons owning ten percent (10%) or more of the outstanding stock or equivalent ownership interest of the Grantee. Such a list shall include a roster of the Grantee's officers and directors (or equivalent managerial personnel). This provision shall not apply to a company whose stock is publicly traded on a major stock exchange.

B.

Grantee shall maintain books and records of its operations of the System to show the following in sufficient detail, consistent with Generally Accepted Accounting Principles, to demonstrate compliance with the reporting requirements of the franchise ordinance.

C.

A Grantee shall maintain accurate books and records for its System; provided, however, that any expenses or expenditures which apply to both the System in the City and any other operations shall be reasonably allocated between all such operations, consistently with Generally Accepted Accounting Principles. Such books and records shall be retained, in any reasonable form, for a period of not less than five (5) years.

D.

In the event the City determines to regulate Subscriber rates, then the books and records of the Grantee's operation within the City pertaining to the regulated service shall be made available to the City, during normal business hours, for inspection and audit by the City within thirty (30) days after such request has been made.

E.

Copies of the Grantee's schedule of charges, contract or application forms for Subscriber service, policy regarding the processing of Subscriber complaints, delinquent subscriber disconnect and reconnect procedures, and any other terms and conditions adopted as the Grantee's policy in connection with its Subscribers shall be filed with the City and shall be made available for inspection by the public in the Grantee's local office.

(Ord. of 1-7-1985, Doc. #19125; Ord. of 9-23-1996, Doc. #29666)