The grantee hereof shall file with the clerk of said city, within three (3) months
after the expiration of the calendar year, or fractional calendar year, following
the sixth day of December, 1954, and within three (3) months after the expiration
of each and every calendar year thereafter, a duly verified statement showing in detail
the total gross receipts of said grantee, during the preceding calendar year, or such
fractional calendar year, from the sale of electricity within said city. Such grantee
shall pay to said city within fifteen (15) days after the time for filing said statement,
in lawful money of the United States, the aforesaid percentage of its gross receipts
for the calendar year, or such fractional calendar year, covered by said statement.
Any neglect, omission or refusal of said grantee to file said verified statement,
or to pay said percentage at the time or in the manner hereinbefore provided, shall
be grounds for the declaration of a forfeiture of this franchise and of all rights
of grantee hereunder.
(Code 1960, § 7415)
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