Any license or franchise and the rights, privileges, authority, and responsibilities established, shall take effect and be in force from and after final acceptance. It shall continue in force and effect for a period established by the license or franchise, not exceeding fifteen years, provided that within thirty days after the date of the City's final acceptance of a license or franchise, the grantee files with the City Clerk its unconditional acceptance of the license or franchise, all required letters of credit, construction surety and insurance certificates, and pays to the City Clerk all reasonable costs actually incurred by the City in preparing, considering and awarding the license or franchise, including legal, engineering, technical, publication and other expenses (the franchise formation fee described in Section 870.09). If a grantee fails to timely comply with this section, it shall acquire no rights, privileges, or authority whatsoever from the City. The City Manager may extend the term of a license or franchise for a period not exceeding one year by written agreement with a grantee on reasonable and necessary terms.
(Ord. 99-07. Passed 3-2-99.)