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1989.04.17 ORD 1989-257
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1989.04.17 ORD 1989-257
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10/26/2017 2:11:47 PM
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10/8/2015 3:25:17 PM
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City Council
Document Type
Ordinances
Meeting Date
4/17/1989
Meeting Type
Regular
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( 9 ) Cost of arbitration shall be borne equally. Reasonable <br /> attorneys ' fees shall be borne by the party who retains <br /> an attorney. <br /> C . In the event of forfeiture, revocation or termination, the <br /> purchase price of the System shall be the fair market value <br /> of material and equipment in place . Goodwill shall not be <br /> included in the purchase price of the System. <br /> D. In the event City is purchasing upon normal expiration of the <br /> Franchise, the purchase price shall be the value of an <br /> ongoing business . <br /> E . Grantee expressly waives its rights , if any, to relocation <br /> costs that might otherwise be provided by law. <br /> F . The date of valuation shall be the date City makes a written <br /> offer for the System. <br /> ARTICLE XII . <br /> MISCELLANEOUS <br /> SECTION 1 . TRANSFER OF OWNERSHIP OR CONTROL <br /> A. This Franchise shall not be assigned or transferred, either <br /> in whole or in part, or leased, sublet or mortgaged in any <br /> manner, nor shall title thereto, either legal or equitable or <br /> any right, interest or property therein, pass to or vest in <br /> any person without the prior written consent of City. <br /> Further, Grantee shall not sell or transfer any stock or <br /> ownership interest so as to create a new controlling interest <br /> except with the consent of City. The transfers described in <br /> 56 <br />
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