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City in accordance with the terms of the ordinance granting the franchise and as follows: Payments and a quarterly report on operations and revenue shall be made thirty (30) days after the close of each quarter of the year. The "gross revenue" as used in this ordinance shall mean all advertising revenue derived directly or indirectly by the franchisee, its affiliates, subsidiaries, a parent company or corporation or any person in which the franchisee has a financial interest, from or in connection with the operation of the franchise prior to any deduction; provided, however, that this shall not include any taxes on services furnished by the franchisee herein imposed directly upon any advertiser by the City, state or other governmental unit and collected by the franchisee on behalf of said governmental unit. 1207.16: ACCOUNTS & RECORDS: A franchisee shall keep books of accounts and records of all transactions and costs incurred in connection with the purchase, manufacture and installation of the shelters and advertising on shelters, showing all financial transactions including receipts and disbursements and the particulars thereof in a form satisfactory to the City of Roseville Finance Director. Such books and records shall be available to the City for inspection any time during normal business hours upon forty-eight (48) hours prior written notice thereof to the franchisee. All such books and records shall be retained by the franchisee for a minimum of five (5) years. Franchisees shall file annually with the City no later than one hundred twenty (120) days after the end of the franchisee's fiscal year, a copy of a financial report applicable to the Roseville Transit Shelter System, including an income statement relating to its operations during the fiscal year and a balance sheet, both of which shall be certified as correct by an independent certified public accountant, and a statement of its properties, equipment and facilities which are located upon the streets, highways and public places within the City giving its investment in such facilities on the basis of original cost, less applicable depreciation. These reports shall be certified as correct by an authorized officer of the franchisee and shall be submitted along with such other reasonable information as the City shall request with respect to the franchisee's facilities and expenses related to its transit stop shelter system operations within the City. Franchisees shall also file with the City Manager copies of their articles of incorporation, bylaws, agreements with any other person relating to the ownership of the transit stop shelter system, and amendments of such documents as they become effective. Franchisees shall procure and maintain at their own cost the following insurance coverage: a) Workers compensation insurance in accordance with the Minnesota Workmen's Compensation Act. b) Commercial general liability insurance with minimum limits of $150,000 per person and $1,000,000 per occurrence. C) Comprehensive automobile liability insurance with minimum limits for bodily injury and property damage of $150,000 per person and $1,000,000 per occurrence. The foregoing insurance coverage shall be procured and maintained with insurers that are reasonably acceptable to the City. The liability insurance policies shall be endorsed to include the City as an additional insured. If the above limits are less than those specified in Minn. Stat. Ch. 466 as the liability limits of a municipality, the higher limits shall apply. The policy shall be of type in which coverage is restored immediately after the occurrence of any loss or accident from which liability may thereafter accrue. The policy shall contain an endorsement which shall