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JUN 15 1983 BQUK 53 . 1 <br />service to the area is not financially feasible shall be the <br />burden of the Utility. <br />a <br />0 <br />'a <br />0 <br />LL <br />i <br />u <br />a <br />W <br />M <br />0 <br />M <br />W <br />m <br />0 <br />f <br />W <br />a <br />0 <br />W <br />2 <br />0 <br />SECTION XII <br />The Utility or its shareholders shall not sell or transfer <br />its plants or systems or stock to another nor transfer any rights <br />under this franchise to another without the approval of the Board. <br />No such sale or transfer after such approval shall be effective. <br />until the vendee, assignee or lessee has filed with the Board an <br />instrument in writing reciting the fact of such transfer and <br />accepting the terms of this franchise and agreeing to perform all <br />of the conditions thereof. In any event, this franchise shall not <br />be transferable and assignable until notice or request for <br />transfer and assignment shall be given by the Utility to the Board <br />in writing accompanied by a request from the proposed transferee, <br />which application shall contain information concerning the <br />financial status and other qualifications of the proposed <br />transferee and such other information as the Board shall require. <br />A public hearing shall be held on such request, of which notice <br />shall be given by publication in a newspaper regularly published <br />in the County at least one time not more than one month or less <br />than one week preceding such hearing. Certified proof of <br />publication of such notice shall be filed with the Board. The <br />Board shall act within ninety (90) days upon such request. The <br />consent by the Board to any assignment of this franchise shall not <br />be unreasonably withheld. Any sale or transfer by the Utility or <br />partners of the Utility taking place contrary to the terms and <br />conditions of this paragraph shall be considered by the Board to <br />be a default by the Utility under this Franchise Agreement and <br />subject this Franchise to termination. <br />SECTION XIII <br />Utility warrants adequate capacity to service existing or <br />anticipated customers and agrees not to provide water service <br />unless adequate' capacity is available at the time any new <br />connection is made. <br />SECTION XIV <br />The rates charged by the Utility for its service hereunder <br />shall at all times be compensatory and shall be fair and <br />reasonable and designed to meet all necessary costs of the <br />service, including a fair rate of return on the fair valuation of, <br />_ _ 8 M <br />