§ 20.5-14. Transfer; transfer of control.

(a)

Any person granted a consent agreement or a franchise agreement pursuant to this chapter ("grantee") shall not sell, transfer, lease, assign, sublet or dispose of, in whole or in part, either by forced or by involuntary sale, or by ordinary sale, consolidation, merger or otherwise, the consent or franchise agreement or any of the rights or privileges granted thereunder without the prior consent of the city council, which consent shall not be unreasonably withheld or delayed. Evidence provided to the city of approval by the state public service commission shall be acceptable for compliance with this section.

(b)

A grantee who seeks to take any of the actions specified in subsection (a), above, shall notify the city at least 90 days in advance of such anticipated action. In addition to providing notice of the proposed action, grantee and the proposed transferee, lessee, assignee, subletee, purchaser, or other entity ("transferee") shall also provide the following information at the time of such notice:

(1)

Complete information setting forth the nature, terms and condition of the proposed transaction; and

(2)

Information evidencing the transferee's legal, technical and financial qualifications.

Within 20 days of a request by the city, the grantee and transferee shall also provide such other information pertinent to the proposed transaction as may be required by the city.

(c)

Within 60 days of receiving all the information it has requested, the city shall take action on the proposed transaction. If the city disapproves the proposed transaction, it shall state its reasons in a resolution of the city council. If the city approves the proposed transaction, but with conditions, it shall likewise state the conditions in a resolution of the city council.

(d)

Failure to obtain the approval of the city council as required by this section may be deemed a forfeiture of the applicable franchise by the city council.

(Ord. No. 98-31, § 14, 6-23-98)