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1973-069
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1973-069
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defined and provided by the Board and the provision of this fran- <br />chise shall not extend beyond the limits of the area so restricted <br />and defined. <br />b. The Company shall not be required to furnish, supply, <br />install and make available its sewer collection and treatment system <br />to any person within the territory as hereinafter set forth, unless <br />the same may be done at such a cost to the Company as shall make <br />the addition proposed, financially and physically feasible. <br />Financially feasible shall mean that with a fair and reasonable <br />rate to be charged by the Company for all the services under this <br />franchise, to the end, that such rate will produce to the Company <br />a sum sufficient to meet all necessary costs of the services; in- <br />cluding a fair rate of return on the net valuation of its property <br />devoted thereto, under efficient and economical management. The <br />burden of showing that a prospective service to the area is not <br />financially feasible shall be the burden of the Company. <br />SECTION 13 <br />The Company shall not sell or transfer its plant or system <br />to another nor transfer any rights under this franchise to another <br />without the approval of the Board and provided, further, that no <br />such sale or transfer after such approval shall be effective until <br />the vendee, assignee or lessee has filed with the Board an instru- <br />ment in writing reciting the fact of such transfer and accepting <br />the terms of this franchise and agreeing to perform all of the <br />conditions thereof. In any event this franchise shall not be <br />transferrable and assignable until notice or request for transfer <br />and assignment shall be given by the Company to the Board in <br />writing, accompanied by a request from the proposed transferee, <br />which application shall contain information concerning the finan- <br />cial status and other qualifications of the proposed transferee <br />and such other information as the Board may require. A public <br />hearing shall be held on such request of which notice shall be <br />given by publication in a newspaper regularly published in the <br />County at least one time not more than one month nor less than one <br />week preceding such hearing. Certified proof of publication of <br />
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