A. Nothing herein shall be deemed or construed to impair or affect, in any way, to any extent, the right of the city to acquire the property of the grantee, either by purchase or through the exercise of the right of eminent domain, at fair market value determined on the basis of the cable system valued as a going concern, but with no value allocated to any amounts expended to obtain the franchise, or any value allocated to the franchise itself, and nothing herein contained shall be construed to contract away or to modify or abridge, either for a term or in perpetuity, the city's right of eminent domain.
B. In the event the city wishes to acquire part or all of the cable communications system either by purchase or through the exercise of the right of eminent domain, city and grantee will each appoint one appraiser to establish the value of the system to be acquired by city. The two appraisers will select a third appraiser who will be chairman of the appraisal board. The board will, by majority vote, determine the value of the system to be acquired by the city. This value will be final and binding on both city and grantee and will be used as the purchase price for just compensation in any purchase by the city or eminent domain proceeding between city and grantee.
C. In the event grantee receives an offer to acquire the CATV system from any person or entity other than the city, grantee shall comply with the procedure herein before such offer may be accepted by grantee. Grantee shall transmit the offer to city, including all material terms and conditions thereof. If city makes an equivalent or better offer within forty-five days of receipt of original offer, then grantee shall convey the CATV system to city upon said terms and conditions, but if the city fails to make such offer, then grantee shall have ninety days to enter into an agreement with the original offeror. In the event such agreement is not entered into within ninety days, or in the event the offer is significantly revised in favor of grantee, or in the event a new offer is received from another offeror, no agreement may be made for conveyance of the CATV system without first providing the city with the right of first refusal as provided herein. Any agreement entered into in violation of this section shall be void and shall be grounds for termination of the franchise by city.
D. The provisions of this section governing the city's right to acquire the CATV system may be modified or supplemented by the franchise agreement, and in the event of any inconsistency between the provisions of this section and the agreement, the provisions of the agreement shall govern.
E. In the event of purchase by the city, or a change of grantee, the current grantee shall cooperate with the city, or with a representative appointed by the city, to operate the system for such period as may be necessary to obtain a new operator and to maintain continuity of service.
(Ord. 85-07-950 § 1 (part))