If so specified in the franchise agreement, the grantor may utilize a portion of the cable communications system capacity, and associated facilities and resources, to develop and provide cable services which will be in the public interest. In furtherance of this purpose, the grantor may establish a commission or public corporation to receive and allocate facilities, support funds and other considerations provided by the grantee and/or others. Such public corporation, if established, may be delegated the following responsibilities:
(A) To receive and utilize or reallocate for utilization channel capacity, facilities, funding and other support provided specifically for the public usage of the cable communications system;
(B) To review the status and progress of each service developed for the public benefit;
(C) To reallocate resources on a periodic basis to conform with changing priorities and public needs; and
(D) To report to the grantor annually on the utilization of resources, the new public services developed, and the benefits achieved for the city and its residents.
('65 Code, § 7-8.503) (Ord. 244-C.S., passed - - )