(A) The right is hereby reserved to the city to adopt, in addition to the provisions contained herein and in existing applicable ordinances, any additional regulations it shall find necessary in the exercise of the police power. These regulations, by ordinance or otherwise, shall be reasonable and not in conflict with the rights herein granted.
(B) At the expiration of the term for which this franchise is granted, this franchise may be renewed by the city for successive ten-year periods on the written request of the grantee without soliciting additional applications. A renewal request shall be filed at least six but not more than 18 months prior to the expiration of the term of this franchise. A renewal request may propose modifications in the terms of the grantee's franchise which shall be considered by the city, but in any case, the city may, on its own motion, modify the terms of the grantee's franchise subject to the conditions set forth in division (C) below.
(C) On receipt of a request for a renewal of the franchise, the city shall schedule a public hearing on the matter, giving at least 30 days notice of the hearing and any franchise modifications proposed by either the grantee or the city. After hearing all the evidence, opinions, and representations, the city shall then render a decision to renew or not to renew the grantee's franchise, and if the former course is taken, whether or not its franchise should be modified in any way. The grantee shall file its acceptance of a renewal franchise within 30 days after it is offered by the city and on failure to do so, shall be conclusively presumed to have consented to the expiration of its franchise.
(D) In the event of nonrenewal or termination of a franchise, the city hereby agrees to require any successor grantee to purchase the grantee's facilities at a cost not to exceed its then fair market value provided the city has the legal authority to do so, with a reduction for any uncompensated damages incurred by the city in connection with the grantee's operation. If the fair market value cannot be agreed on by the parties, it shall be determined by a three member arbitration panel, one member to be selected by the successor grantee, one by the grantee, and the third member by the two members first named. The parties shall divide the expenses of arbitration evenly among themselves.
(Ord. 130, passed 3-26-81)