Transfer of ownership to grantor

(a)

In those circumstances provided for in this chapter wherein the city shall have the right to purchase ownership of a grantee's cable television system or any of its assets, the city may give notice that it elects to exercise such right and the city may acquire such assets at the time of payment of the value thereof. In those circumstances where the question of value has been submitted to an appraisal, the city may affirmatively accept the decision of the appraisers within ninety (90) days after the rendering of the appraiser's decision. However, if the city fails to accept or reject the appraiser's decision within the aforesaid ninety-day period, the rights of the city to purchase shall expire. If the city rejects the appraisal, then the matter may be taken to a court of competent jurisdiction within the county to resolve the impasse.

(b)

In those circumstances provided for in this chapter wherein the city shall have the right to purchase ownership of a grantee's cable television system or any of its assets, no question of value shall be submitted to an appraisal until one hundred twenty (120) days have elapsed from the giving of such notice as cited in subsection (a).

(Code 1971, § 52-39; Ord. No. 7864-A, § 1(Art. IV, § 9), 1-28-82)