(A) All of the rights and privileges and all of the obligations, duties and liabilities created by this franchise shall pass to and be binding upon the successors of the city and the successors and assigns of the grantee.
(B) Any transfer by the grantee shall become effective upon receipt by the city of written notice from the grantee advising the city of the transfer and the name and address of the transferee, and the receipt by the city of a statement in writing from the transferee agreeing to be bound and abide by all of the obligations, duties and liabilities as well as the rights and privileges created by this franchise.
(Prior Code, § 115.26) (Ord. 4565, passed 11-13-1979) Penalty, see § 115.99