(A) Bids and proposals for the purchase and acquisition of the franchise and privileges hereby created shall be in writing and shall be delivered to the Mayor or his or her designated subordinate upon the date and at the time fixed in the advertisement for the receipt of such.
(B) Bids offered for purchase of this franchise shall state the bidder's acceptance of the conditions set forth in this subchapter and shall be accompanied by a nonrefundable application fee in the amount of $600 payable to the City Council to defray the city's costs of advertising and other administrative expenses incurred.
(C) If any bid shall include an offer of payment over and above the requirement contained in § 111.41, then a certified check for that amount, payable to the city, shall be remitted with the bid. This amount shall be considered as additional consideration for the grant of this franchise.
(D) Each bid shall be accompanied by cash or a certified check drawn upon a bank of the Commonwealth of Kentucky, or a national bank, equal to 5% of the fair estimated cost of the equipment and apparatus to be placed under the franchise created by this subchapter, which check or cash shall be forfeited to the city in case the bid should be accepted and the bidder should fail, for 30 days after confirmation of the sale, to pay any consideration then due and to give a good and sufficient bond in the sum equal to 1/4 of the fair estimated cost of the equipment and apparatus to be erected; conditioned that it shall be enforceable in case the purchaser should fail, within 9 months, to install the equipment and apparatus contemplated to be provided pursuant to the franchise created by this subchapter; but the deposit and bond need not be made by a corporation or person already owning within the territorial limits of the city the equipment and apparatus contemplated by the franchise created by this subchapter.
(E) Any cash or check remitted by an unsuccessful bidder shall be returned.
(Ord. 2005-07, passed 6-20-2005)