A. If the license is revoked or not renewed the City may purchase the cable television system at a price not to exceed its fair market value as defined in this section.

B. If the City elects to purchase the cable system upon expiration or termination of the license, the current licensee will sell the cable system to the City. The price for that sale will be the fair market value of the cable system.

C. If a renewal of a license is denied and the City acquires ownership of the cable system or effects a transfer of ownership of a cable system to another person, any such acquisition or transfer shall be at fair market value, determined on the basis of the cable system valued as a going concern but with no value allocated to the license itself.

D. If a license is revoked for cause and the City acquires ownership of the cable system or effects a transfer of ownership of the cable system to another person, that acquisition or transfer will be at fair market value, determined on the basis of the cable system valued as a going concern but with no value allocated to the license itself. (Ord. No. G-6034, 2015)