(A) The city shall have a right of first refusal to purchase the cable system in the event the grantee receives a bona fide offer to purchase the cable system from any person.
BONA FIDE OFFER as used in this section means a written offer which has been accepted by grantee, subject to the city's rights under this chapter and any franchise agreement. The price to be paid by the city shall be the amount provided for in the bona fide offer, including the same terms and conditions as the bona fide offer. The city shall notify grantee of its decision to purchase within 60 days of the city's receipt from grantee of a copy of the written bona fide offer and such other relevant and pertinent information as the city shall deem appropriate.
(B) Consistent with Section 627 of the Cable Act and all other applicable laws, at the expiration, cancellation, revocation or termination of any franchise agreement, the city shall have the option to purchase, condemn or otherwise acquire and hold the cable system.
(Ord. 836, passed 6-23-97)