(A) It shall be duty of the Mayor, as soon as practicable after the passage of this section, to offer for sale at public auction the franchise and privileges involved herein. Said franchise shall be sold to the best available bidder.
(B) The City Clerk/Treasurer shall give notice by advertising, pursuant to KRS Chapter 424, for request for bids and the time for receipt of same. Any utility subject to the terms and provisions of this subchapter may provide for in its bid any special or extraordinary matters or circumstances which relate or apply to its particular business; all subject, however, to the right of rejection of any such bid by the city.
(C) (1) After the time set for receipt of bids hereunder, the Mayor shall report and submit to the City Council, at the time of its next regular meeting, the bids and proposals for its approval. The City Council reserves the right for and on behalf of the city to reject any and all bids for said franchises and privileges, and the City Council may direct that said franchise or franchises to be again offered for sale from time to time, until a satisfactory bid or bids shall be received and approved.
(2) Each such bid shall be accompanied by a deposit, and each bidder shall post bond in accordance with the provisions of KRS 96.020; provided, however, that such deposit and bond need not be made by any bidder which owns and operates within the corporate limits of the city, as the plant and equipment are sufficient to render the service or services required by this subchapter. Upon receipt of a bid or bids, the city may negotiate further specific terms of any franchise agreement hereunder.
(Ord. -2000, passed 2-21-2000)