A nonexclusive franchise may not be transferred or assigned by the grantee thereof without the written consent of the city; provided, however, that this section does not prohibit, and shall not be construed to prohibit, any mortgage, pledge, encumbrances or grant of a security interest, for financing purposes or otherwise, in any property or equipment of a CATV system.
(Ord. 86-2 § 12, 1986)