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0 <br />ii <br />60 <br />its services and facilities; provided, however, that the Board may, upon <br />application of the Utility exteaid time for providing such service to <br />such demanding person. In the event the Utility fails to ,provide its <br />services and facilities as a water and/or wastewater system to any area <br />within tate franchise territory within the time specified by the Hoard, <br />then in such an event, the County may, by resolution of the Hoard, <br />limit, restrict and confine the territory to that area then being <br />serviced by water and/or wastewater by the Utility or such greater area <br />as the Board shall determine, and thereafter, the territory shall be <br />only the area set forth, in the resolution adopted by the Board, <br />(b) The Utility shall not be required to furnish, supply, install <br />and make available its public water and/or wastewater system to any <br />person within the franchise area unless the same may be done at such a <br />cost to the Utility as shall make the addition proposed financially <br />feasible. Financially feasible shall man 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 under efficient and economical management. <br />The burden of showing that prospective service to the area is not <br />financially feasible shall be the burden of the. Utility. <br />SF)CTON X -1I <br />TRANSFER of OWNERSI3IP <br />The Utility or its shareholders shall not sell or transfer its <br />plants or systems 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 />transfer after such approval shall be effective until the vendee, <br />assignee or lessee has filed wit1i the Hoard an instrument in writing <br />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 <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 Hoard in writing accompanied by a request from the <br />proposed transferee, which application shall contain information <br />concerning the financial status and other qualifications of the proposed <br />transferee and such other information as the hoard 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 county at <br />least one time not more than one month or less than one week preceeding <br />such hearing. certified proof of publication of such notice shall be <br />filed with the Hoard. The Hoard 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 unreasonably 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 />