§ 2. POWER TO GRANT FRANCHISE.

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The council shall have the power by ordinance to grant, renew, and extend all franchises of all service providers placing or installing facilities or equipment in, on or over the city rights of way and of all public utilities of every character operating within the city, and, with consent of the franchise holder, to amend the same; provided, however, that no franchise shall be granted for a term of more than 25 years, and that no franchise shall be granted, renewed, extended, or amended, except on condition that the city shall have the right at any time within five years of the expiration of the term thereof to purchase the property of the franchise holder at a price to be determined according to the method agreed upon in the ordinance granting, renewing, extending, or amending the franchise.
Amendment note: Section 2 appears as amended at the election of May 7, 1994.

Source: Ord. No. 20180809-113 , Pt. 7, 8-20-18/election of 11-6-18.

                    
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