4/6/1983 - Laserfiche WebLink

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territory to that area then being serviced by sewerage by the Corporation or such greater area as the Board shall determine; and thereafter, the territory shall be only the area set forth, in the resolution by the Board. (b) The Corporation shall.not be required to furnish, supply, install and make available its sewerage system to any person within the franchise area unless the same may be done at such a cost to the Corporation as shall make the addition W 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 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 isnot financially feasible shall be the burden of the Corporation. SECTION XII .The Corporation or'its shareholders shall not sell or transfer its plants or systems or corporate stock to another or transfer any*,rights under this franchise to another without the approval of the Board. No such sale or transfer after such approval shall be effective until the vendee, assignee or lessee has filed with the Board an instrument in writing reciting the fact of such transfer and accepting the terms of this franchise and agreeing to perform all of the conditions thereof. In any event, this franchise s�all not be transferable and assignable until notice or request for transfer and assignment shall be given by the Corporation to the Board in writing accompanied by a request from the proposed transferee, which application shall contain information concerning the financial status and other qualifications of the proposed transferee and such other Y information as the Board shall require. A public hearing shall .ME 53 PA'6-Ej?6