In the event the Board elects to revoke the franchise or fails to renew the franchise and providing the Board elects not to purchase the system, the Board may require that the system be sold to a franchisee designated by the Board of Alderpersons, at a purchase price that shall be equivalent to the fair market value determines in the same manner described in § 110.024 of this chapter.
(Prior Code, § 4.1-10) (Ord. passed 9-19-1979)