<div class="chunk-title">Sec. 25-69. - Sale or transfer of franchise.</div>
<div class="chunk-content">
            <p class="incr0">
               (a)
               </p>
            		
            <p class="content1">
               No grantee shall sell, transfer, lease, assign, sublet, or dispose of, in whole or
               in part, an interest in or control of a franchise or cable system or any of the rights
               or privileges granted by a franchise agreement, without the prior consent of the grantor,
               which consent shall not be unreasonably denied or delayed and may be denied only upon
               a good faith finding by the grantor that the proposed transferee lacks the legal,
               technical, or financial qualifications to consummate the transaction and operate the
               system so as to perform its obligations under this chapter and the applicable franchise
               agreement. This section shall not apply to sales of property or equipment in the normal
               course of business. Consent from the grantor shall not be required for a transfer
               in trust, mortgage, or other instrument of hypothecation, in whole or in part, to
               secure indebtedness, or for a transfer to a person controlling, controlled by, or
               under common control with a grantee.
               </p>
            		
            <p class="incr0">
               (b)
               </p>
            		
            <p class="content1">
               The following additional events shall be deemed to be a sale, assignment, or other
               transfer of an interest in or control of a grantee or its franchise or cable system
               requiring compliance with this section: (i) the sale, assignment, or other transfer
               of all or a majority of a grantee's assets; (ii) the sale, assignment, or other transfer
               of capital stock or partnership, membership, or other equity interests in a grantee
               by one or more of its existing shareholders, partners, members, or other equity owners
               so as to create a new controlling interest in a grantee; (iii) the issuance of additional
               capital stock or partnership, membership or other equity interest by a grantee so
               as to create a new controlling interest in a grantee; and (iv) a grantee's agreement
               to transfer management or operation of the grantee or the system. The term "controlling
               interest" as used herein is not limited to major stockholders but includes actual
               working control in whatever manner exercised.
               </p>
            		
            <p class="incr0">
               (c)
               </p>
            		
            <p class="content1">
               In the case of any sale or transfer of ownership of an interest in or control of a
               grantee or its franchise or cable system, 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 FCC regulations and the requirements
               of this chapter and the applicable franchise agreement, including information related
               to the legal, technical and financial qualifications, and the proposed transferee's
               ability to operate the system in accord with this chapter and the franchise agreement.
               Failure to provide all information reasonably requested by the county as part of its
               review may be grounds for a denial of the proposed transfer. If the county fails to
               render a final decision on the request within 120 days after receipt by the county
               of all required information, such request shall be deemed granted unless the grantee
               and the county agree to an extension of the 120-day period.
               </p>
            		
            <p class="incr0">
               (d)
               </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 rights-of-way, and any
               transfer shall, by its terms, be expressly subject to the terms and conditions of
               this chapter and the franchise agreement.
               </p>
            		
            <p class="incr0">
               (e)
               </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
               initial system.
               </p>
            		
            <p class="incr0">
               (f)
               </p>
            		
            <p class="content1">
               Any approval by the county of a transfer shall be contingent upon the prospective
               new grantee becoming a signatory to the franchise agreement.
               </p>
            		
            <p class="historynote0">
               (Ord. of 9-6-05, Â§ 1; Amend. of 10-3-05, Â§ 4)
               </p></div>