3/21/1979 - Laserfiche WebLink

Home Browse Search

0 (a) The Corporation shall furnish, supply, install and make available its public water system to any and all persons within the territory making demand therefor, and shall provide such demanding person with its services and facilities, provided, however, that the Board may, upon application of the Corporation, extend the time for providing such service to such demanding person. In the event the Corporation fails to provide its services and facilities as a water system to any area within the territory within the time provided, then in such event the County may by resolution of the Board limit, restrict and con- fine the territory to that area then being serviced by water by the Corporation or such greater area as the Board shall determine and thereafter the territory shall be only the area set forth, defined and provided by the Board and the provisions of this franchise shall not extend beyond the limits of the area so restricted and defined. (b) The Corporation shall not •be required to furnish, supply, install•and make available its public water system to any person within the territory as hereinbefore set forth, unless 4 the same may be done at such a cost to the Corporation as shall make the addition proposed financially feasible. Financially feasible shall mean that a fair and reasonable rate to be • charged by the Corporation for all its services under this franchise; that such rate will produce to the Corporation a sum sufficient to meet all necessary costs of the services, including a fair rate of return on the net valuation of its property devoted thereto under efficient and economical management. The burden of showing that a prospective service to the area is not finan- cially feasible shall be the burden of the Corporation. The Corporation, or its Shareholders, shall not sell or transfer its plant or system, or corporate stock, to another - 7 - WK 39 FACE O"M MAR 2 11979