1974-038 - Laserfiche WebLink

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0'9= and physically feasible. Financially feasible shall mean that with a fair and reasonable rate to be charged by the Owners for all the services under 40�= this franchise, to the end, that such rate will produce to the Owners a sum sufficient to meet all necessary costs of the services; including a fair rate of return on the net valuation of their property devoted thereto, under efficient and economical management. The burden of showing that a pros- pective service to the area is not financially feasible shall be the burden of the Owners. SECTION 13 The Owners shall not sell or transfer their plant or system to another nor transfer any rights under this franchise to another without the approval of the Board and provided, further, that 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 shall not be transferrable and assignable until notice or request for transfer and assignment shall be given by the Owners to the Board in writing, accompanied by a request from the proposed transferee, which application shall contain information con- cerning the financial status and other qualifications of the proposed trans- feree and such other information as the Board may require. A public hearing shall be held on such request of which notice shall be given by publication in a newspaper regularly published in the County at least one time not more than one month nor less than one week preceding such hearing. Certified proof of publication of such notice shall be filed with the Board. Said hearing may thereafter be continued from time to time as determined by the Board. The Board will, however, approve or disapprove such sale or transfer within ninety (90) days from the date of said public hearing. The consent by the Board to any assignment of this franchise shall not be un- reasonably withheld. -8-