(A) The grantor may at its sole option, apply any or all of the following remedies in connection with delays in system construction:
(1) Forfeiture of construction bonds and/or assessment of monetary damages against the security fund up to a maximum limit specified in the franchise agreement, levied against the security fund for delays exceeding three months;
(2) Termination of the franchise within one year after award of the franchise if the grantee has failed to initiate system construction or rebuild, as required by the franchise agreement; and
(3) Termination of the franchise for construction or service delays exceeding 18 months.
(B) Any remedies applied shall be in accordance with the procedures contained in § 115.011.
(Prior Code, § 115.074) (Ord. D-1485, § 7.5, passed 6-3-1985, effective 6-13-1985)