(A) In the event a renewal of a franchise is denied or is otherwise terminated and the city acquires ownership of the cable system or effects a transfer of ownership to another person, any such acquisition or transfer shall be at fair market value determined on the basis of the cable system as a going concern but with no value allocated to the franchise itself, consistent with applicable federal law.
(B) A franchise agreement shall contain negotiated terms giving the city a right of first refusal in the event the franchisee decides to sell its cable system.
(Ord. 96-9, passed 2-26-1996)