80-029 Ordinance - Laserfiche WebLink

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i. CITY OF N(~±-1H OLMSTED ORDINANCE N0. 80-29 PAGE 17 application for this franchise which are incorporated herein by reference, there shall be recoverable, jointly and severally, from t'he principal and surety of the Bond, any damages or loss suffered ' by the City as a result, including the full amount of any compensa- tion, indemnification or cost of removal or abandonment of any prop- erty of the Grantee, plus a reasonable allowance for attorney's fees, including the City's legal staff, and costs, up to the full amount of the Bond. (c) The Council shall, upon completion of construction of the initial service area, waive the requirement of the Grantee to maintain said Bond; however, the Council may require a Perform- ance Bond to be posted by the Grantee for any construction sub- sequent to the completion of the initial service area in a reason- able amount and upon such terms as determined by the Council. (d) The Bond shall contain the following endorsement: "It is hereby understood and agreed that this bond may not be cancelled by the surety nor the intention not to renew be stated by the surety until thirty (30) days after receipt by the City of North Olmsted, Ohio, by registered mail, of a written notice of such intent to cancel or not to renew." SECTION 22: RECORDS, REPORTS AND FILINGS (a) The Grantee shall keep complete and accurate books of account and records of its business and operations under and in connection with the terms of this Ordinance. (b) The Mayor or his authorized agent shall have access to all books of account and records of the Grantee for the purpose of ascertaining the correctness of any and all reports and shall be given local access to all other records upon reasonable request. (c) In addition to the above, the Grantee shall file annually with the City, no later than ninety (90) days after the end of the Grantee's fiscal year a copy of its report to its stockholders (if it prepares such a report) and income statement applicable to its operations during the preceding twelve (12) month period, a bal- ance sheet, and a statement of its properties devoted to cable tele- vision operations, by categories, giving its investment in such prop- erties on the basis of original cost, less applicable depreciation. These reports shall be certified as correct by an officer of the Grantee, and there shall be submitted along with them such other reasonable information as the Mayor may request with respect to the Grantee's properties and expenses relating to its cable tele- vision operations within the City. (d) Copies of all petitions, applications, and communica- tions submitted by the Grantee to the Federal Communications Com- mission, Securities and Exchange Commission, or any other federal or state regulatory commission or agency having jurisdiction in respect to any matters affecting cable television operations authorized pursuant to the franchise shall be submitted simultane- ously with the City. (e) Any false entry in the books of account or records of the Grantee or false statements in the reports to the Mayor as to material fact, knowingly made by Grantee, shall constitute the breach of a material provision of this Ordinance and the franchise. SECTION 23: TRANSFER OF CONTROL (a) No transfer of control of the cable television system shall take place, whether by forced or voluntary sale, lease, mortgage, assignment, encumbrance or any other form of disposi- tion, without prior notice to and approval by the Council which shall not be unreasonably refused. The notice shall include full