HomeMy WebLinkAbout12-59 RESOLUTION•
RESOLUTION 12-59
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WHEREAS, by Ordinance No. 1028 as amended by Ordinance No. 1146, the
City Council of the City of Fayetteville, Arkansas, granted to Trans -Video
Corporation of Arkansas, an Arkansas Corporation, an exclusive franchise to
furnish direct wire reception of television programs to the citizens and residents
of the City of Fayetteville, Arkansas, and
WHEREAS, Section V of Ordinance No. 1028 provides that prior to the ex-
piration of six and one-half years from the passage of said ordinance that a
privilege or occupation tax to be paid to the City of Fayetteville, Arkansas, shall
be negotiated by and between the City and the holder of said franchise,
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FAYETTEVILLE, ARKANSAS•
1. That Trans -Video Corporation of Arkansas, an Arkansas Corporation, has
offered to pay to the City of Fayetteville, Arkansas, and the City of Fayetteville,
Arkansas, has agreed to accept from Trans -Video Corporation of Arkansas, its
successors and assigns, an annual privilege tax to be paid for as long as said
franchise is held by Trans -Video Corporation of Arkansas, as follows:
1% of gross revenues derived from service and maintenance charges collected
on services rendered within the corporate limits of the City of Fayetteville,
Arkansas, and areas immediately adjacent thereto for two years commencing
January 8, 1959;
1-1/2% of gross revenues derived from service and maintenance charges
collected on services rendered within the corporate limits of the City of
Fayetteville, Arkansas, and areas immediately adjacent thereto for two
years commencing January 8, 1961;
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2% of gross revenues derived"from service and maintenance charges collected
on services rendered within the corporate limits of the City of Fayetteville,
Arkansas, and areas immediately adjacent thereto commencing January 8,
1963 and for the duration of the franchise period.
2. That Trans -Video Corporation of Arkansas shall submit to the City Cont-
roller the verified statement by an officer of said corporation the amount of said
monthly gross revenues as herein defined together with eadh monthly franchise
tax payment.
3. That said privilege or occupation tax shall be subject to renegotiation by
and between the City of Fayetteville, Arkansas, and Trans -Video Corporation
of Arkansas.
;{ Dated thisl0th day of August, 1959.
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AT.TEST;:}, E
. DAVIS, CITY CLERK
APPROVED:
J.AUSTIN PARISH, MAYOR