A city or town shall not acquire an ownership interest in any commercial cable television system unless the ownership interest is acquired at not less than fair market value.

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Terms Used In Arizona Laws 9-509

  • Cable television system: means any facility consisting of a set of closed transmission paths and associated signal generation, reception and control equipment that is designed to provide cable service that includes video programming and that is provided to multiple subscribers within a community. See Arizona Laws 9-505
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
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