Every Franchise granted pursuant to this Chapter shall contain a provision requiring that the City and Grantee shall amend the Franchise to assure that each party receives the benefit of the bargain intended under the Franchise in the event that: (1) any provision of a Franchise is preempted by Applicable Law; or (2) the parties agree in the Franchise that any other matter will trigger such renegotiation rights. The provision shall permit either Party to request negotiations to implement the provision and shall provide for a dispute resolution process to be available to either party forty (40) City business days after a request for negotiations in the event that the parties are unable to mutually agree on how to revise the Franchise to properly redistribute the benefits of the bargain.
(Added by Ord. 58-00, File No. 000198, App. 4/7/2000)