<div class="chunk-title">Sec. 23-55. - Transfer of ownership or control.</div>
<div class="chunk-content">
            <p class="incr0">
               (a)
               </p>
            		
            <p class="content1">
               Transfer of franchise. Any franchise granted hereunder 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 in accordance with this article.
               </p>
            		
            <p class="incr0">
               (b)
               </p>
            		
            <p class="content1">
               The county has 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
               FCC 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="incr0">
               (c)
               </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 herein is not limited to major stockholders but includes actual
               working control in whatever manner exercised. A rebuttable presumption that a transfer
               has occurred shall arise upon the disposal by the grantee, directly or indirectly,
               by gift, transfer, assignment, voluntary sale, merger, consolidation or otherwise,
               of ten percent or more at one time of the ownership or controlling interest in the
               system, or 15 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; except that no consent shall be required for
               any sale, transfer or assignment of ownership or control to an entity under common
               control with grantee, provided the grantee provides the county with a written commitment
               indicating that the grantee will maintain responsibility for adherence to the terms
               and conditions of the franchise.
               </p>
            		
            <p class="incr0">
               (d)
               </p>
            		
            <p class="content1">
               If the grantee decides to sell, transfer, lease, assign, or dispose of the franchise
               by any means or method or change the control of the grantee, it shall first give written
               notice to the county of the proposed change, transfer or acquisition, including the
               name and address of the prospective transferee or controlling party and shall furnish
               such additional information as the county may reasonably request regarding the legal,
               financial, character, technical and other public interest qualifications of such party.
               </p>
            		
            <p class="incr0">
               (e)
               </p>
            		
            <p class="content1">
               Grantee shall have no right to change the control of grantee, or sell, transfer, lease,
               assign, or dispose of the system by any means 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, and other public
               interest qualifications of the prospective controlling party or owner of the system,
               and the grantee shall assist the county in any such inquiry. Failure to provide all
               information requested by the county as a part of said inquiry shall be grounds for
               denial of the proposed change, transfer, or acquisition of control.
               </p>
            		
            <p class="incr0">
               (f)
               </p>
            		
            <p class="content1">
               Assumption of control. No consent of the county shall be required for the grantee
               to hypothecate or pledge the franchise for the purpose of obtaining financing. However,
               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,
               said financial institution shall also submit a plan for such operation that will insure
               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 said period of time it shall have
               the right to petition for transfer of the franchise to another 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">
               (g)
               </p>
            		
            <p class="content1">
               The consent or approval of the county to any transfer of the grantee shall by its
               terms, be expressly subject to the terms and conditions of this article and the franchise.
               </p>
            		
            <p class="incr0">
               (h)
               </p>
            		
            <p class="content1">
               The county reserves the right to be informed of the purchase price of any transfer
               or assignment of the cable system based on available documentation.
               </p>
            		
            <p class="incr0">
               (i)
               </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="historynote0">
               (Ord. of 10-10-05, Â§ 25-100)
               </p></div>