(a) The company shall pay to the town a franchise fee of three percent of the gross subscriber revenue per year. All payments as required by the company to the town shall be made semiannually and shall be due within 60 days after the close of the preceding six-month period.

(b) Should the FCC regulations be amended or a court decision in the future allow the town to receive a fee from its franchise of more than three percent of gross subscriber revenues, the franchise shall immediately begin making such increased payments to the town as are authorized to the full extent of such authorization.
(Code 1981, § 6-3014)