(a)    's right to purchase system. The shall have a right of first refusal to purchase the in the event the grantee receives a bona fide offer to purchase the from any . Bona fide offer as used in this section means a written offer which has been accepted by grantee, subject to the city's rights under this . The price to be paid by the shall be the amount provided for in the bona fide offer, including the same terms and conditions as the bona fide offer. The shall notify grantee of its decision to purchase within 60 of the city's receipt from grantee of a copy of the written bona fide offer and such other relevant and pertinent information as the shall deem appropriate.
   (b)   Transfer of ownership.
      (1)   No sale, transfer, assignment or “fundamental corporate change”, as defined in M.S. § 238.083, as it may be amended from time to time, of this shall take place until the parties to the sale, transfer, or fundamental corporate change files a written request with for its approval, provided, however, that said approval shall not be required where grantee grants a security interest in its and assets to secure an indebtedness.
      (2)    shall have 30 from the time of the request to reply in writing and indicate approval of the request or its determination that a public hearing is necessary due to potential adverse effect on grantee's resulting from the sale or transfer. Such approval or determination shall be expressed in writing within 30 of receipt of said request, or the request shall be deemed approved as a matter of law.
      (3)   If a public hearing is deemed necessary pursuant to subsection (B)(2) above, such hearing shall be commenced within 30 of such determination and notice of any such hearing shall be given in accordance with local law or 14 prior to the hearing by publishing notice thereof once in a newspaper of general circulation in . The notice shall contain the date, time and place of the hearing and shall briefly state the substance of the action to be considered by .
      (4)   Within 30 after the closing of the public hearing, shall approve or deny in writing the sale or transfer request. shall set forth in writing with particularity its reason(s) for denying approval. shall not unreasonably withhold its approval.
      (5)   The parties to the sale or transfer of the only, without the inclusion of the system in which substantial construction has commenced, shall establish that the sale or transfer of only the will be in the public interest.
      (6)   Any sale or transfer of stock in grantee so as to create a new controlling interest in the system shall be subject to the requirements of this section. The term “controlling interest” as used herein is not limited to majority stock ownership, but includes actual working control in whatever manner exercised.
      (7) In no event shall a transfer or assignment of ownership or control be approved without the transferee becoming a signatory to this and assuming all rights and obligations thereunder, and assuming all other rights and obligations of the transferor to the .
      (8)   In the event of any proposed sale or assignment pursuant to subsection (B)(1) of this section, shall have the right of first refusal of any bona fide offer to purchase the . BONA FIDE OFFER, as used in this section, means an offer received by the grantee which it intends to accept subject to city's rights under this section. This written offer must be conveyed to along with the grantee's written acceptance of the offer contingent upon the rights of provided for in this section. shall be deemed to have waived its rights under this subsection (B)(8) in the following circumstances:
         (A)   If it does not indicate to grantee in writing, within 30 of notice of a proposed sale or assignment, its intention to exercise its right of purchase; or
         (B)    It approves the assignment or sale of the as provided within this section.
   (c)   Removal of . In the event that: (1) the use of the is discontinued for any reason for a continuous period of 12 months; or (2) the has been installed in a without complying with the requirements of this , grantee, at its expense shall, at the demand of the remove promptly from the all of the other than any which the may permit to be abandoned in place. In the event of any such removal grantee shall promptly restore the to a condition as nearly as possible to its prior condition the or other public places in the from which the system has been removed in accordance with all requirements of the .
   (d)   Abandonment of . In the event of grantee's abandonment of the , shall have the right to require grantee to conform to the state right-of-way rules, Minn. Rules Chapter 7819. The to be abandoned in place shall be abandoned in the manner prescribed by the . Grantee may not abandon any portion of the system without having first given three months written notice to the . Grantee may not abandon any portion of the system without compensating the for damages resulting from the abandonment.
   (e)   Removal after abandonment or termination. If grantee has failed to commence removal of system, or such part thereof as was designated by , within 30 after written notice of city's demand for removal consistent with Minn. Rules, Ch. 7819, is given, or if grantee has failed to complete such removal within 12 months after written notice of city's demand for removal is given, shall have the right to apply funds secured by the letter of credit and performance bond toward removal and/or declare all right, title, and interest to the to be in with all rights of ownership including, but not limited to, the right to operate the or transfer the to another for operation by it.
   (f)    options for failure to remove . If grantee has failed to complete such removal within the time given after written notice of the city's demand for removal is given, the shall have the right to exercise one of the following options:
      (1)   Declare all right, title and interest to the system to be in the or its designee with all rights of ownership including, but not limited to, the right to operate the system or transfer the system to another for operation by it; or
      (2)   Declare the system abandoned and cause the system, or such part thereof as the shall designate, to be removed at no cost to the . The cost of said removal shall be recoverable from the security fund, indemnity and penalty section provided for in this or from grantee directly.
      (3)   Upon termination of service to any , grantee shall promptly remove all its facilities and equipment from within the dwelling of a who owns such dwelling upon his or her written request, except as provided by . Such shall be responsible for any costs incurred by grantee in removing the facilities and equipment.
(Ord. 2015-7, passed 1-26-2015)