1979-051 - Laserfiche WebLink

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a fair rate of return on the net valuation 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 not be the burden of the Owner. SECTION 13 The Owner shall riot 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 instrument in writi.na 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 assianable until notice or request for transfer and assignment shall be given by the Owner to the Board in writing, accompanied by a request from the proposed transferee, which application shall contain information concerning the financial sLatus 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 unreasonably be withheld. SECTION 14 The rates charged by the Owner for its service hereunder shall be fair and reasonable and designed to meet all necessary costs of the service, including a fair rate of return on the net.