1975-066 - Laserfiche WebLink

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• territory shall be only the area set forth, defined and provided • by the Board and the provisions of this franchise shall not extend beyond the limits of the area so restricted and defined. (b) The Company shall not be required to furnish, supply, install and make available its public water system or its public sewer system or both to any person within the territory as hereinabove set forth, unless the same may be done at such a cost to the Company as shall make the addition proposed financially feasible. Financially feasible shall mean that with a fair and reasonable rate to be charged by the Company for all its services under this franchise; that such rate will produce to the Company a sum sufficient to meet all necessary costs of the services, including a fair rate of return on the net valiaatio of its property devoted thereto under efficient and economical management. The burden of showing that a prospective service to the area is not financially feasible shall be the burden of the Company. SECTION XIII The Company shall not sell or transfer its plant or system to another nor transfer any right 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 Company to the Board in writing, accompanied by a request from the proposed transferee, which application 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 hearing shall be held on such request of which otice shall be given by IBM