The village may grant one or more cable television franchises containing such provisions as are reasonably necessary to protect the public interest and each franchise shall be awarded in accordance with and subject to the provisions of this code. This code may be amended from time to time, and in no event shall this code be considered a contract between the village and a franchisee, such that the village would be prohibited from amending any provision hereof. No amendment shall, in any way, impair any contract right or increase obligations of a franchisee under an outstanding and effective franchise, except in the lawful exercise of the village’s police power.
(`92 Code, § 8-1-28) (Ord. 96-19, passed 10-2-96)