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12/19/1961
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12/19/1961
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to the Company as shall make the addition proposed, financially <br />and physically feasible. Financially feasible shall mean that <br />with a fair and reasonable rate to be charged by the Company for <br />all the services under this franchise and that such rate will <br />produce to the Company a sum sufficient to meet all necessary <br />costs of the services; including a fair rate of return on the <br />net valuation of its property devoted thereto, under efficient <br />and economical management. The burden of showing that a prospectiv <br />service to the area is not financially feasible shall be the bur- <br />den of the Company. <br />SECTION 13 <br />The Company shall not sell or transfer its plant or system <br />to another nor transfer any rights under this franchise to another <br />without the approval of the Board and provided, further, that no <br />such sale or transfer after such approval shall be effective until <br />the vendee, assifnee or lessee has filed with the Board an instru- <br />ment In writing reciting the fact of such transfer and accepting <br />the tcrias of this franchise and agreeing to perform all of the <br />conditions thereof. In any event this franchise shall not be <br />transferrable an assignable until notice or request for transfer <br />aria asci2:nrrent s:gall be given by the Company to the Board in <br />writing, accompanied by a request from the proposed transferee, <br />,which appl cation snail contain information concerning the finan- <br />cial status and et n.vr qualifications of the proposed transferee <br />and auci1 other information as the Board may require. A public <br />hearing shall be hold on such request of which notice shall be <br />given by publication in a newspaper regularly published in the <br />County at least one time not more than one month nor less than <br />one week preceeding such hearing. Certified proof of publication <br />of such notice shall be filed with the Board. Said hearing may <br />thereafter be continued from time to time as determined by the <br />Board. The Board will, however, approve or disapprove said sale <br />or transfer within ninety (90) days from the dateof said public <br />LAW OFFICE JOHM'R.aOt tD �PDi BEACH} Fl 39 <br />
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