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m <br />® valuation of its property devoted thereto under efficient and economical management.' <br />The burden of showing that a prospective service to the area is not financially <br />® II feasible shall be the burden of the Company. <br />err-11-111ni vol <br />The Company shall not sell or transfer its plant or system to another nor <br />transfer any rights under this franchise to another without the approval of the <br />Board, and provided further that no such sale or transfer after such approval shall <br />be effective until the vendee, assignee or lessee has filed with the Board an instru- <br />ment in writing reciting the fact of such transfer and accepting the terms of this <br />franchise and agreeing to perform all of the conditions thereof. in any event, this <br />i <br />franchise shall not be transferable and assignable until notice or request for transfer, <br />I <br />and assignment shall be given by the Company to the Board in writing, accompanied <br />by a request from the proposed transferee, which application shall contain informa- <br />tion concerning the financial status and other qualifications of the proposed transferee <br />i <br />and such other information as the Board may require. A public hearing shall be <br />held on such request of which notice shall be given by publication in a newspaper <br />regularly published in the County at least one time not more than one month nor <br />less than one week preceding such hearing, Certified proof of publication of such <br />i <br />notice shall be filed with the Board. Said hearing may thereafter be continued from <br />i <br />time to time as determined by the Board. The consent by the Board to any assignment <br />of this franchise shall not be unreasonably withheld. <br />cGr-rinr.i vni <br />The rates charged by the Company for its service hereunder shall be <br />fair and reasonable and designed to meet all necessary costs of the service, including <br />t <br />a fair rate of return on the net valuation of its properties devoted thereto under <br />efficient and economical management. The Company agrees that it shall be subject <br />i <br />to all authority now or hereafter possessed by the County or any other regulatory <br />body having competent jurisdiction to fix just, reasonable and compensatory rates. <br />When this franchise takes effect, the Company shall have authority to charge and <br />collect, but not to exceed, the following schedule of rates, which shall remain <br />effective until changed or modified as herein provided, to wit: <br />-6- <br />Smith, He.:ith, Smith & O'Haire, Attorneys At Law, P. O. Box 518, Vero Beach, Florida 32960 <br />