1982-060 - Laserfiche WebLink

Home Browse Search

�e -8- and shall provide such demanding person with its services ® and facilities; provided, however, that the Board may, upon application of the Corporation, extend time for providing such service to such demanding person. In the event the Corporation fails to provide its services and facilities as a sewer system to any area within the territory within the time specified by the Board, then in such event the G County may, by resolution of the Board, limit, restrict and confine the territory to that area then being serviced by sewerage by the Corporation or such greater area as the Board shall determine; and thereafter, the territory shall be only the area set forth, in the resolution adopted by the Board. (b) The Corporation shall not be required to furnish, supply, install and make available its public sewerage system to any person within the franchise area unless the same may be done at such a cost to the Corporation as shall make the addition proposed financially feasible. Financially feasible shall mean that a fair and reasonable rate shall be realized by the Corporation for all its services under tris franchise; that such rate of return on the net valuation of its property devoted thereto under efficient and economi- cal management. The burden of showing that a prospective service to the area is not financially feasible shall be the burden of the Corporation. SECTION XII The Corporation or its Shareholders shall not sell or transfer its plants or systems or corporate stock to another or transfer any rights under this franchise to another without the approval of the Board. 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, -8-