§ 7. Compensation to City.  

Latest version.
  • WTG shall pay to the City as compensation for the right and privilege granted in this ordinance the amount of $2,500, one time on the effective date of this ordinance. In addition, WTG shall pay an annual sum equal to the rate of $2.00 per linear foot for the right-of-way described in Attachment "A." Such annual payments shall be made on the effective date of the ordinance and on the anniversary date each year thereafter. The City and WTG may hereafter establish such periodic payment procedure as the parties mutually agree.