§ 76-58. Purchase of system upon cancellation, termination, or expiration of franchise.

(a)

Upon the cancellation, termination, or expiration of a franchise, the county shall have the right to purchase the CATV system in the unincorporated areas of Fulton County in accordance with subsection (b) of this section and the county may direct the grantee to cease operation of the CATV system. If the county elects to purchase the CATV system, the grantee shall promptly execute all appropriate documents to transfer title to the county, and shall assign all other contracts, leases, licenses, permits, and any other rights necessary to maintain continuity of service to the public. The grantee shall cooperate with the county or with another person, partnership, corporation, or other legal entity authorized or directed by the county to operate the CATV system for a temporary period in maintaining continuity of service. Nothing herein is intended as a waiver of any other rights the county may have.

(b)

If a franchise:

(1)

Is cancelled or terminated by the county as provided for in this article, the purchase price to the county for the CATV system shall be its then book value (i.e., cost less accumulated depreciation) according to generally accepted accounting principles with a reduction for any damages incurred by the county in connection with the cancellation. The book value, if not agreed upon, shall be determined by arbitration pursuant to section 76-59 of this article, but shall not include any valuation based upon the franchise. Damages incurred by the county shall include, without limitation, any payments made by the county to another person, partnership, corporation, or other legal entity, for the operation of the system for a temporary period until a franchise is granted.

(2)

Terminates by expiration of its terms, the purchase price to the county for the CATV system shall be its then fair market value of the CATV system as of the date of expiration of the term of its franchise. The fair market value shall be the fair market value of all tangible and intangible property forming part of the CATV system, but shall not include any valuation based upon the franchise. The fair market value, if not agreed upon, shall be determined by arbitration pursuant to section 76-59 hereof.

(c)

Upon cancellation, termination, or expiration of a franchise, the county may direct the grantee to operate the CATV system for the account of the county for a period of six months. The county shall pay the grantee all reasonable and necessary costs incurred by it for the operation of the CATV system during this period.

(Code 1983, § 33-4-28)