This chapter shall apply to and bind the City and the Company, their successors and assigns; provided, any assignment by the Company or successor to the Company shall be subject to the approval of the Council by resolution, which shall not be unreasonably withheld. The City shall have 60 days from the effective date of the assignment, or designation of successor in interest, to adopt the resolution. If the City fails to adopt a resolution affirming or rejecting the assignment during the 60-day period, the assignment or successor in interest shall be deemed approved.