(a) In the event a franchise expires by its terms, the franchise shall be automatically renewed on a month-to-month basis until terminated by either party in accordance with law.
(b) At the expiration of the franchise or upon revocation of the franchise, the City may, in a lawful manner and upon the payment of fair market value, determined on the basis of the cable television system as valued as a going concern, exclusive of any value attributable to the franchise itself, lawfully obtain, purchase, condemn, acquire, takeover and hold the cable television system.
(Ord. 1998-11. Passed 6-22-98.)