1974-038 - Laserfiche WebLink

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M I set forth, unless the same may be done at such a cost to the ®M Owner as shall make the addition proposed, financially and physically feasible. Financially feasible shall mean that with a fair and reasonable rate to b e charged by the Owner for all the services under this franchise, to the end, that such rate will produce to the Owner a sum sufficient to meet all necessary costs of the ser- vices; including a fair rate of return on the net valuation of its property devoted thereto, under efficient and economical manage- ment. The burden of showing that a prospective service to the area is not financially feasible shall be the burden of the Owner. SECTION 13 The Owner shall not sell or transfer its 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 instru- ment 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 Owner to the Hoard in writing, accompanied by a request from the proposed transferee, which ap- plication shall contain information concerning the financial status and other qualifications of the proposed transferee and such other information as the Board may require. A public hear- ing 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 -8-