(A) Within 60 days after acceptance of any franchise the grantee shall proceed with due diligence to obtain all necessary permits and authorizations which are required in the conduct of its business, including, but not limited to, any utility joint use attachment agreements, microwave carrier licenses, certificate of compliance and any other permits, licenses and authorizations to be granted by duly constituted regulatory agencies having jurisdiction over the operation of such systems, their associated microwave transmission facilities, and satellite relay facilities.
(B) Within 18 months after all necessary permits, licenses and authorizations, the grantee shall commence construction and installation of the system, and proceed to render service to subscribers. Completion of construction and installation shall be pursued with reasonable diligence so that service to all areas designated in the official proposal as filed with the city shall be provided within 18 months from the date that service was first provided insofar as the grantee has power to accomplish this.
(C) Failure on the part of the grantee to commence and diligently pursue each of the foregoing requirements and to complete each of the matters set forth herein shall be grounds for revocation of such franchise, under and pursuant to the terms of § 725.12(A); provided, however, that Council in its discretion may extend the time for the commencement and completion of construction and installation for additional periods in the event the grantee acting in good faith, experiences delays by reason of circumstances beyond his or her control.
(D) As evidence of good faith in the performance of the franchise agreement and in consideration of the granting of such franchise the grantee shall upon acceptance of such franchise, deposit with the city, a construction performance bond in the amount of $75,000 to guarantee its construction time table under the terms of the franchise agreement. This bond shall terminate upon completion of the project. Thereafter, only the bond requirement as set forth in § 725.15 shall be maintained.
(Ord. 5258, passed 10-28-80) Penalty, see § 725.99