A. In the event the City annexes territory for which another public body having jurisdiction to issue a franchise has issued a franchise to construct, operate and maintain a cable communications system, then franchisee’s rights and obligations shall continue after annexation as they existed before annexation until expiration of that franchise, except that:
1. After annexation the City shall have all rights under the franchise of the issuing public body, including without limitation all rights to regulate, to collect and use franchise fees, regulation of system construction and operation within the annexed area, and rights to insurance, indemnification and other protections; and
2. After annexation the franchisee’s obligations under the franchise regarding system construction and operation and other franchise requirements within the annexed area shall be to the City rather than to the issuing public body.
B. Nothing in this Section shall be deemed to modify the rights or obligations of the City or grantees under other franchises.