A. Termination. The license shall terminate upon the expiration of the term thereof, unless renewal is successfully applied for, per Article 13-11.

B. Revocation. If a licensee is in material violation of this chapter or in default of the terms of its license agreement, the Town Manager may make written demand that the licensee come into compliance with said requirements within a reasonable period of time. If the licensee is unwilling to do so, the Town Manager may take action in accordance with A.R.S. § 9-1451.

C. System Disposal. In the event of termination or revocation of a license, the licensee involved shall offer to sell the cable system, at the fair market value, to a new licensee or applicant for a license. The fair market value shall be determined in accordance with generally accepted appraisal procedures. The original cost of all tangible and intangible property, as well as salvage value, book value, replacement cost, cash flow and other factors, will be considered. Under no circumstances shall any valuation be made for any right or privilege granted by license. Should the licensee fail to negotiate a sale, as described above, the Town may purchase the system at the fair market value for the purpose of leasing to a qualified operator until a buyer can be found, pursuant to the provisions of A.R.S. §9-509. (19-18, Amended, 12/03/2019)