(A) There is hereby granted by the town to the company, for a period of 15 years from and after July 29, 1989, or for the life of the indebtedness of any financing secured for operation in the town, whichever is longer:
(1) The right and privilege to construct, erect, operate and maintain a cable television system for the reception, amplification and distribution of video and/or audio signals to subscribing members of the public for a fee; and,
(2) The right and privilege to construct, operate and maintain the cable television system in, upon, along, across, above, over and under the streets, alleys, public ways and public places now laid out or dedicated within the corporate limits of the town and all extensions thereof and additions thereto in the town.
(B) In connection with the right and privilege herein granted, the Town Council has examined and approved the legal, character, financial, technical and other qualifications of the company, as well as the adequacy and feasibility of its construction arrangements, as part of a public proceeding affording due process. The right to use and occupy the streets, alleys, public ways and places for the purpose herein set forth shall not be exclusive and the town reserves the right to grant a similar use of the streets, alleys, public ways and places to any person at any time during the period of this franchise.
('85 Code, § 4-7-3) (Ord. 1980-1, passed 7-9-80; Am. Ord., passed 3-9-83)