§ 13.5. Term, Compensation, and Restriction.

Latest version.

No franchise, lease or right to use the streets or the public places or property of the Town shall be granted for a term which exceeds twenty (20) years, except as provided by ordinance hereafter enacted. Every grant of a franchise shall fix the amount and manner of payment of compensation to be paid by the grantee for the use of the same. Such compensation shall be paid as provided and be subject to mutual periodic renegotiation, and failure to pay shall result in forfeiture of the franchise at the option of Council. This provision shall not except the grantee from any lawful taxation upon his or its property, nor from any license, charges or other impositions levied by the Council, not levied on account of the use granted by the franchise.

(Amended by special election 11/01/05.)

                    
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