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<br />SECTION 2. section 11.75 of the Code of the City of Redwood <br /> <br /> <br />City is hereby amended to read as follows: <br /> <br /> <br />"Section 11.75 Every franchise granted shall be sub- <br /> <br /> <br />ject to the following conditions and limitations: <br /> <br /> <br />"(a) Franchises granted under this article shall be <br /> <br /> <br />nonexclusive. <br /> <br />"(b) No privilege or exemption shall be granted or <br /> <br />conferred by any franchise granted under this article except <br /> <br /> <br />those specifically prescribed herein. <br /> <br />"(c) Any privilege claimed under such franchise by <br /> <br /> <br />the grantee in any street, or other public property, or <br /> <br />easements, shall be subordinate to any prior lawful occupancy <br /> <br /> <br />of the streets, or other public property or easements. <br /> <br />"(d) Any such franchise shall be a privilege to be <br /> <br /> <br />held in personal trust by the original grantee. It cannot <br /> <br /> <br />in any event be sold, transferred, leased, assigned or dis- <br /> <br /> <br />posed of, in whole or in part, either by force or involuntary <br /> <br /> <br />sale, or by voluntary sale, merger, consolidation or other- <br /> <br />wise, without prior consent of the City Council of the City <br /> <br /> <br />expressed by ordinance, and then only under such conditions <br /> <br /> <br />as may be therein prescribed. The said consent of the City <br /> <br /> <br />may not be arbitrarily refused; provided, however, the <br /> <br /> <br />proposed assignee must show financial responsibility and <br /> <br />must agree to comply with all provisions of this article; <br /> <br /> <br />and provided, further, that no such consent shall be <br /> <br /> <br />required for a transfer in trust mortgage or other hypotheca- <br /> <br />tion as a whole, to secure an indebtedness. <br /> <br /> <br />"(e) The grantee shall have no recourse whatsoever <br /> <br /> <br />against the city for any loss, cost, expense, or damage, <br /> <br /> <br />arising out of any provisions or requirements of this article <br /> <br />-2- <br />