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such demanding person. In the event the Utility fails to provide its <br />services and facilities as an water and/or wastewater system to any area <br />within the 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 the water and/or wastewater system by the Utility or such <br />greater area as the Hoard shall determine; and thereafter, the territory <br />shall be only the area set forth, in the resolution adopted by the <br />Hoard. <br />2. 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 meati that a fair and reasonable <br />rate of return shall be realized by the Utility for a?1 i_t_s sen'ices <br />under this franchise; that such rate of return on its rate base under <br />efficient and economical management. The burden of showing that <br />prospective service to the area is not financially feasible shall be the <br />burden of the Utility. <br />SDCPIGN XII <br />TRANSFER OF CWNTTERSHIP <br />Ifhe 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 with the Board 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 Board 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 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 County at <br />least one time 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 Board. ThP Apard shall act ::itl i . r ,'"^)Uays Pu <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 %axE Utili Ly taking place contrary to the <br />terms and conditions of this paragraph shall be considered by the Board <br />to be a default by the Utility under this franchise agreement and <br />subject this franchise to termination. <br />7 <br />