92-20. Sale of System

  1. System may be sold. If the use of any part of the grantee's CATV system is discontinued for any reason for a continuous period of 12 months or if such system as installed does not comply with the requirements of this chapter and the grantee's franchise, or if the grantee's franchise is terminated or revoked or not renewed, the County may, in its discretion but not in conflict with the provisions of the Cable Communications Policy Act of 1984, as amended, require that said system be sold for cash to a franchise designated by the Board of Commissioners at a purchase price equal to the system's fair market value as determined in Subsection C hereof.
  2. County may purchase. Under the conditions set forth in subsection A above, the County may, at its option, purchase said system at its fair market value. If the franchise is otherwise revoked, the County may purchase said system for equitable value as defined in Section 627 of the Cable Communications Policy Act of 1984, as amended.
  3. Fair market value. Fair market value shall be determined by the County consistent with generally accepted appraisal and accounting principles and with provisions of the Cable Communications Policy Act of 1984, as amended. No consideration or value shall be given for any right or privilege granted by this chapter or the grantee's franchise. Any dispute between the County and the grantee over determination of the system's fair market value (as a going concern) shall be resolved by a panel of 3 appraisers, 1 to be selected by the County, 1 to be selected by the grantee and the third to be selected by the other 2 appraisers. The grantee shall fully cooperate with said appraisers. The cost of such appraisal shall be borne equally by the grantee and the successor grantee. The grantee, after having received full consideration, shall execute such deeds, bills of sale and other documents as may be necessary to effectuate the transfer.