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1983-066
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1983-066
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(b) The Utility shall not be required to furnish, supply, install <br />arca make available its public water and/or wastewater system to any <br />person within the franchise area unless the sane may be done at such a <br />cost to the Utility as shall make the addition proposed financially <br />feasible. Financially feasible shall wean that a fair and reasonable <br />rate of return shall be realized by the Utility for all its services <br />under this franchise, that such rate of return on the net valuation of <br />its property devoted thereto miler efficient and economical manage ent. <br />The burden of showing that prospective service to the area is not <br />financially feasible shall be the burden of the Utility. <br />SFX.TION XII <br />TRANSFER OF OWNERSHIP <br />The Utility or its shareholders shall not sell or transfer its <br />plants or systens or stock to another nor transfer any rights under this <br />franchise to another without the approval of the Board. No such sale or <br />tcmafer after such approval shall be effective until the vendee, <br />assignee or lessee has filed with the Board an instrument in writing <br />reciting the fact of such transfer and accepting the terra of this <br />franchise and agreeing to perform all of the conditions thereof. In any <br />event, this franchise shall not be transferable and assignable until <br />notice or request for transfer and assignment shall be given by the <br />Utility to the Board in writing accompanied by a request frau the <br />proposed transferee, which application shall contain information <br />concerning the financial statue and other qualifications of the proposed <br />transferee and such other information as the Board shall require. A <br />public hearing may be held on such request, of which notice shall be <br />given by publication in a newspaper regularly published in the Canty at <br />least one tine not more than one month or less than one week preceding <br />such hearing. Certified proof of publication of such notice shall be <br />filed with the Hoard. The Board shall act within ninety (90) days upon <br />such request. The consent by the Board to any assignment of this <br />franchise shall not be u,ressonably withheld. Any sale or transfer by <br />the Utility or partners of the Utility taking place contrary to the <br />terms and conditions of this paragraph shall be considered by the Board <br />W be a default by the Utility under this franchise agceemnt and <br />subject this franchise to termination. <br />=ION XIII <br />ADMQURTE CAPACITY <br />Utility warrants adequate capacity to service existing or <br />anticipated custarers and agrees not th provide water and/or wastewater <br />service unless adequate capacity is available at the time any new <br />connection is made. <br />
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