Laserfiche WebLink
thereafter, the territory shall be only the area set forth, in the <br />® resolution adopted by the Board. <br />2. The Utility shall not be required to furnish, supply, install <br />and make available its wastewater system to any person within the <br />® franchise area unless the same may be done at such a cost to the Utility <br />as shall make the addition proposed financially feasible. Financially <br />feasible shall mean that a fair and reasonable rate of return shall be <br />realized by the Utility for all its services under this franchise; that <br />such rate of return on its rate base is under efficient and economical <br />management. The burden of showing that prospective service to the area <br />is not financially feasible shall be the burden of the Utility. <br />QPrTTnM XTT <br />TRANSFER OF OWNERSHIP <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 effect ve until the vendee, <br />assignee or lessee has filed with the Board ari 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. 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 unreasonably withheld. Any sale or transfer by <br />the Utility or partners of the Utility taking place contrary to the terms <br />and conditions of this paragraph shall be considered by the Board to be a <br />default by the Utility under this franchise agreement and subject this <br />franchise to termination. <br />SECTION XIII <br />ADEQUATE CAPACITY <br />Utility warrants adequate capacity to service evict4ng or <br />anticipated customers and agrees not to provide wastewater service unless <br />adequate capacity is available at the time any new connection is made. <br />7 <br />