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Any granting of the franchise created hereby shall include the obligation of the city to provide, at least 18 months before its expiration, for the sale of a new franchise to the highest and best bidder on terms that are fair and reasonable to the city, to the existing holder of the franchise, and to its patrons.
(Ord. 2005-07, passed 6-20-2005)
Any violation by the company, its vendee, lessee or successor of the provisions of this franchise or any material portions thereof, or the failure promptly to perform any of the provisions thereof, shall be cause for the forfeiture of this franchise and all rights hereunder after written notice to the company and continuation of the violation, failure or default.
(Ord. 2005-07, passed 6-20-2005)
The franchise created by this subchapter shall become effective upon acceptance of the company's bid, as expressed in the ordinance of acceptance, which additionally fixes the initial revenue percentages to be paid pursuant to the maximum limit set forth herein.
(Ord. 2005-07, passed 6-20-2005)