<div class="chunk-title">Sec. 40-65. - Transfer of ownership or control.</div>
<div class="chunk-content">
            <p class="incr0">
               (a)
               </p>
            		
            <p class="content1">
               Any franchise granted under this article shall not be sold, transferred, leased, assigned
               or disposed of, including but not limited to transfer by force or voluntary sale,
               merger, consolidation, receivership or other means, nor shall the control of the grantee
               be changed, without the prior consent of the county, and then only under such conditions
               as the county may establish.
               </p>
            		
            <p class="incr0">
               (b)
               </p>
            		
            <p class="content1">
               The grantee shall promptly notify the county of any actual or proposed change in or
               transfer of or acquisition by any other party of control of the grantee. The word
               "control" as used in this subsection is not limited to major stockholders but includes
               actual working control in whatever manner exercised. A rebuttable presumption that
               a transfer of control has occurred shall arise upon the disposal by the grantee, directly
               or indirectly, by gift, assignment, voluntary sale, merger, consolidation or otherwise
               of 20 percent or more at one time of the ownership or controlling interest in the
               system or 50 percent cumulatively over the term of the franchise of such interests
               to a corporation, partnership, limited partnership, trust or association, or person
               or group of persons acting in concert. However, no consent shall be required for any
               sale, transfer, or assignment of ownership to an entity under common control with
               the grantee, provided that, prior to such transfer, the grantee provides to the county
               verifiable information acceptable to the county to establish that such transferee
               has the financial, legal, and technical ability to fully perform all obligations of
               the franchise.
               </p>
            		
            <p class="incr0">
               (c)
               </p>
            		
            <p class="content1">
               Every change, transfer, or acquisition of control of the grantee shall make the franchise
               subject to cancellation unless and until the county shall have consented thereto,
               which consent will not be unreasonably withheld. For the purpose of determining whether
               it shall consent to such change, transfer, or acquisition of control, the county may
               inquire into the legal, financial, character, technical and other public interest
               qualifications of the prospective controlling party, and the grantee shall assist
               the county in any such inquiry. Failure to provide all information requested by the
               county as part of such inquiry shall be grounds for denial of the proposed change,
               transfer or acquisition of control.
               </p>
            		
            <p class="incr0">
               (d)
               </p>
            		
            <p class="content1">
               Assumption of control. The county agrees that any financial institution having a pledge
               of the franchise or its assets for the advancement of money for the construction and/or
               operation of the franchise shall have the right to notify the county that it or its
               designees satisfactory to the county will take control and operate the cable television
               system. Further, such financial institution shall also submit a plan for such operation
               that will ensure continued service and compliance with all franchise obligations during
               the term the financial institution exercises control over the system. The financial
               institution shall not exercise control over the system for a period exceeding one
               year, unless extended by the county at its discretion and during the period of time
               it shall have the right to petition for transfer of the franchise to another the grantee.
               If the county finds that such transfer, after considering the legal, financial, character,
               technical and other public interest qualifications of the applicant are satisfactory,
               the county will transfer and assign the rights and obligations of such franchise as
               in the public interest. The consent of the county to such transfer shall not be unreasonably
               withheld.
               </p>
            		
            <p class="incr0">
               (e)
               </p>
            		
            <p class="content1">
               The consent or approval of the county to any transfer of the grantee shall not constitute
               a waiver or release of the rights of the county in and to the streets, and any transfer
               shall, by its terms, be expressly subject to the terms and conditions of this article
               and the franchise.
               </p>
            		
            <p class="incr0">
               (f)
               </p>
            		
            <p class="content1">
               In the absence of extraordinary circumstances, the county will not approve any transfer
               or assignment of the franchise prior to completion of construction of the proposed
               system.
               </p>
            		
            <p class="incr0">
               (g)
               </p>
            		
            <p class="content1">
               The county reserves the right to review the purchase price of any transfer or assignment
               of the cable system.
               </p>
            		
            <p class="incr0">
               (h)
               </p>
            		
            <p class="content1">
               Any approval by the county of transfer of ownership or control shall be contingent
               upon the prospective controlling party becoming a signatory to the franchise.
               </p>
            		
            <p class="incr0">
               (i)
               </p>
            		
            <p class="content1">
               Timeframe for county review. The county shall have 120 days to act upon any request
               for approval of such sale or transfer that contains or is accompanied by such information
               as is required in accordance with Federal Communications Commission regulations and
               by the county. If the county fails to render a final decision on the request within
               120 days, such request shall be deemed granted unless the requesting party and the
               county agree to an extension of time.
               </p>
            		
            <p class="historynote0">
               (Code 1995, Â§ 517.020)
               </p></div>