If a renewal or extension of the grantee’s franchise is denied, or the franchise is lawfully terminated, and the franchising authority either lawfully acquires ownership of the cable system or by its actions lawfully affects a transfer of ownership of the cable system to another party, any acquisition or transfer shall be at the price determined pursuant to the provisions set forth in 47 USC 541.
(Ord. 1997-5F, passed 5-19-97)