In the event the grantee, at some future date, desires to sell the cable television system, the city shall have the first option to purchase the system for the price which the prospective buyer is willing to pay for the system. The grantee shall provide to the city notice of the proposed purchaser, the proposed purchase price and the proposed closing date of the purchase. Should the city so desire to purchase the cable television system in accordance with the proposed purchase agreement by the proposed purchaser from the grantee, then the city shall so notify the grantee of its election to exercise the option to purchase within 30 days of the date of receipt of the notice to sell by the grantee. Purchase of ownership shall be within 90 days of said notice.
(Ord. 310, passed 6-18-1982)