A contract or franchise may be terminated at the option of the Council in the event there is a change of ownership of any kind or nature of the operating company, unless approval therefor has been obtained in writing from the Council. If it is determined by the City Manager following an inspection of the contractor’s or grantee’s place of business, after reasonable notice to the contractor or grantee, that the operator or manager has not complied with the provisions of this chapter and all other applicable statutes, ordinances, rules and regulations of the state and City, the City Manager shall notify the contractor or grantee in writing of noncompliance and shall order compliance within 30 days. If noncompliance is not corrected, the Council, after a hearing, shall be empowered to cancel the contract or franchise with the operator, or take such other action as the Council shall determine. (Ord. 2740 § 1, 1998).