§ 4. [Franchise fee.]

That effective the first day of the second month beginning after the effective date of this franchise and ordinance, grantor shall be entitled to receive from grantee a monthly franchise fee which when added to 1/12 of all taxes, licenses and other impositions levied or imposed by grantor upon grantee's electric utility facilities and property and grantee's business and operation for the preceding year will equal six percent of grantee's revenues from the sale of electrical energy to residential and commercial customers plus six percent of grantee's revenue from grantor for public street lighting all within the corporate limits of the grantor. The franchise fee for each month shall be payable on or before the 15th day of the following month.