§ 12.9. Term, compensation and restriction.

No franchise shall be granted for a period longer than twenty (20) years, or without reserving to the City such fair fee arising from the use thereof as shall be provided in the grant of such franchise. This compensation shall not exempt the grantee or his/her assignees from any lawful assessment upon his/her property or from other tax not related to the franchise privilege, or pertaining to the physical operation thereof, but shall exempt the grantee or his/her assignees from any occupancy tax, license tax, permit charge, inspection fee, or similar tax on the privilege of doing business or in connection with the physical operation thereof, as shall be fixed in the grant of any franchise. The franchise fee established by ordinance shall be paid as provided and be subject to mutual periodic re-negotiation, and failure to pay such fee shall result in forfeiture of franchise at the option of City Council. Assignment or leasing of a franchise shall be considered a forfeiture unless application therefor be made to the City, and consent given by the City Council by ordinance, with such change of conditions or terms as they may deem necessary. City Council reserves the right to deny any assignment of franchise.

(Ord. No. 3712, § 2, 8-6-2001/11-6-2001)