(a) Effective Date. The effective date of any Grant of a new franchise or the renewal of existing franchise(s) will be thirty (30) days after its approval by City Council or at the earliest date allowed under the laws of the State of Ohio and the Charter of the City of Oxford.
(b) Franchise Acceptance. Notwithstanding the occurrence of the effective date, the Franchise shall not cone into effect and the Franchisee shall have no rights under the Franchise until, and within thirty (30) days of the effective date, it files a written acceptance of the Franchise Agreement and agrees to be bound by and comply with all the requirements hereof and delivers to the City the required bonds, insurance policies, and security fund documents along with any and all maps, plans, or other documents required under this agreement.
(c) Duration of Franchise. The initial term for new Franchise granted under this Chapter will be for a period of fifteen (15) years from the effective date. If the Franchisee has not complied with the acceptance requirements as prescribed under Oxford Code Section 731.10(b) above within the allotted time, there shall be no extension to cover any delay and all obligations of the City to the Franchisee shall cease.
(Ord. 2439. Passed 1-2-96.)
(Ord. 2439. Passed 1-2-96.)