Ordinance - #82-14 - 09/27/1982 - Laserfiche WebLink

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The procedures for the City's election to exercise its rights to purchase the System are contained in Section 2. The procedure provides for City's right to aocept the terms of a pending purchase offer, or the appointment of an arbitration panel to establish the terms and oonditions of the sale. ARTICLE XII. MISCRr.rANEOUS Ownership in the system my not be transfered without the prior writ- ten consent of the City. The procedures for notifying the City of the transfer of ownership, and City evaluation of said transfer, are provided for in Section 1. The City sbm]l have the right to require Group W to remove, at GrOUp W's expense, m]l or any portion of the System within City upon the revocation or termination of the franchise pursuant to the terms and procedures of Section 2. S~CTIC[q 3. ~ P~ BY OT~RS Group W mst inform the City of the names and addresses of any entity other than Group W which sbml l perform services pursuant to the franchise. For the purposes of the .franchise, prime rate sba]l mean the interest charged from time to time by the First National Bank of Minneapolis for ninety day unsecured loans to cc~mercial borrowers of the highest credit rating. S~CTIC[~ 5. ~ PRO~ISI~ C~ RIC4~PS AND I~D~F~ All remedies and rights given to City by the franchise are in addition to any other rights which City might otherwise have regarding the System-or Group W. The franchise must at a3 l times be in compliance with the rules of the State Cable Board and ali. laws, ordinances and regulations of federal, state and city government relating to the cable television system and the franchise. If any provision of this franchise is declared invalid or void, that section may be severed from the franchise with the remaining sections in full force and effect. If the City determines that a provision of the 'franchise is affected by law, ordinance or regulation, City shall have'the right to amend, modify alter -8-