§ 24. Duration and Acceptance of Franchise  


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  • (a) This franchise and the rights, privileges, and authority hereby granted shall take effect and be in force from and after final passage hereof, as provided by law, and shall continue in force and effect for a term of twenty (20) years, plus an option for an additional ten (10) years; provided, that within sixty (60) days after the date of the passage of this ordinance, the grantee shall file with the city clerk its unconditional acceptance of this franchise and promise to comply with and abide by all its provisions, terms, and conditions. Such acceptance and promise shall be in writing duly executed and sworn to, by or on behalf of the grantee before a notary public or other officer authorized by law to administer oaths.

    (b) Should the grantee fail to comply with subsection (a) above, it shall acquire no rights, privileges, or authority under this franchise whatever.