Gainesville City Council approved a new law to help stem losses from a 2008 change in state law that is expected to cost the city $50,000 to $75,000 in franchise fees.“We’ll just have to absorb it,” Gainesville City Manager Kip Padgett said.The City Council approved a new ordinance Thursday morning that amended the city’s code on licensing, permitting and business regulations for the use of city right-of-ways. The ordinance institutes an access permit fee on companies, insurance and bonding requirements and the ability to penalize companies.“The money collected for the use of city right-of-way was formerly collected through franchise agreements,” Financial Services Manager Beverly Williams said in an email.The law, Senate Bill 379, allows telecom companies that pay cities 3 percent of their local retail customer revenue to construct, maintain and operate through or on any land in Georgia and exercise eminent domain. Rates for companies with no local retail customers and only using the right of way are set by Georgia Department of Transportation rules.