A franchise grant may be indeterminate, that is, it may provide that it shall endure
in full force and effect until the same, with the consent of the appropriate state
or federal agency, shall be voluntarily surrendered or abandoned by its possessor,
or until the State, or some municipal or public corporation, duly authorized by law,
shall purchase by voluntary agreement or shall condemn and take, under the power of
eminent domain, the property actually used and useful in the exercise of such franchise,
or until the franchise shall be forfeited for non-compliance with its terms by the
possessor thereof, or until it is terminated in any other manner that may be specified
in the franchise grant. Every indeterminate franchise shall set forth the terms and
condition under which it may be terminated.
(Sec. 13, Ord. 1048-N.S.)
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