1. Any franchise granted under this chapter shall be a privilege to be held for the benefit of the public. Such franchise cannot in any event be sold, transferred, leased, assigned or disposed of, including but not limited to, by forced or voluntary sale, merger, consolidation, receivership or other means without the prior consent of the city, and then only under such conditions as the city may establish. Such consent as required by the city shall, however, not be unreasonably withheld.

    2. Nothing in this chapter shall be deemed to prohibit the assignment of the franchise, mortgage or pledge of the network or any part thereof for financing purposes. However, any such assignment, mortgage, pledge or lease shall be subject to the rights of the city under this chapter. (Ord. S-35454, 1978)