The city shall have the right to purchase the system under the conditions set forth in the Cable Act (47 U.S.C. § 547), as follows:
(A) If a renewal of a franchise is denied and the city acquires ownership of the cable system or effects a transfer of ownership of a cable system to another person, such acquisition or transfer shall be at fair market value, determined on the basis of the cable system valued as a going concern but with no value allocated to the franchise itself.
(B) If a franchise is revoked for cause and the city acquires ownership of the cable system or effects a transfer of ownership of the cable system to another person, such acquisition shall be at an equitable price within the meaning of the Cable Act.
(Prior Code, § 122.054) (Ord. 2001-377, passed 11-13-2001)