§ 16-94. Franchise fee.

The total dollar amount of franchise fees paid by the grantee by the city shall be calculated as follows: The current fiscal year total franchise fee shall equal the product to the design day capacity and the current franchise fee factor. The current franchising fee factor shall be equal to the product of the base year franchise fee factor and one plus the inflation index expressed as a decimal to their significant digits. The following formula quantified this payment:

FFc=FFFby x (CPI-PFA) x DDCc

Where:

FFc=the total franchise fees due the city for the current fiscal year.

FFFby=the total franchise fees due the city for the current fiscal year.

CPI-PFA=the inflation index based on the cumulative change in the Consumer Price Index less the productivity factor adjustment determined by the state public service commission.

DDCc=the design day capacity as of the last day of the previous fiscal year.

FFFby=FFby/DDCby

Where:

FFby=the total franchise fees paid in the base year.

DDCby=the design day capacity of the base year.

(Code 1985, § 4-505)