1983-108 - Laserfiche WebLink

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' . territory shall be only the area set forth, in the resolution adopted by the Board. (bl The Utility shall not be required to furnish, supply, install and IMke available its public water and /or wastewater system to any person within the franchise area unless the sane may be done at such a aost to the Utility as shall IMke the addition proposed financially feasible. Financially feasible shall rrean that a fair and reasonable rate of return shall be realized by the Utility for all its services under this franchise; that such rate of return on the net valuation of its property devoted thereto under efficient and econanical managerrent. The burden of shading that prospective service to the area is not financially feasible shall be the burden of the Utility. SOCTION XII TRANSFER OF CMNERSHIP The Utility or its shareholders shall not sell or transfer its plants or systems or stock to another nor 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 13or _d an instrurrent in writing reciting the fact of such transfer and accepting the tenns of this franchise and agreeing to perform all of the conditions thereof. In any event , this franchise shall not be transferable and assignable until notice or request for transfer and assignrrent shall be given by the Utility to the Board in writing acccnpanied by a request fran 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 shall require. A public hearing may be held on such request, of which notice shall be given by publication in a newspaper regularly published in the County at least one ti.Ire not rrore than one rronth or less than one week preceding such hearing. Certified proof of publication of such notice shall be filed with the Board. The Board shall act within ninety (90) days upon such request. The consent by the Board to any assignrrent of this franchise shall not be unreasonably withheld. Any sale or transfer by the Utility or partners of the Utility taking place contrary to the tenns and conditions of this paragraph shall be considered by the Board to be a default by the Utility under this franchise agreerrent and subject this franchise to termination. SOCTION XIII ADOOUATE CAPACITY Utility warrants adequate capacity to service existing or anticipated custarers and agrees not to provide irrigation service and/or wastewater service unless adequate capacity is available at the tin-e any new connection is made. 7