If a renewal or extension of the grantee’s cable 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 effects a transfer of ownership of the cable system to another person, any such acquisition or transfer shall be at a price determined pursuant to the provisions set forth in § 627 of the Cable Act.
(2013 Code, § 8-5.4) (Ord. 14586, passed 4-13-1998)