§ 19-24. Sale or transfer of franchise.

(a)

Restriction. A franchise shall not be sold, assigned or transferred, either in whole or in part, or leased or sublet in any manner, nor shall title thereto, either legal or equitable, or any right, interest or property therein, pass to or vest in any person, without full compliance with the procedures set forth in this chapter or unless otherwise provided in a separate franchise agreement

(b)

Procedure. In addition to the requirements of the Act, the following procedure shall be observed:

(1)

Request in writing. The parties to the proposed sale or transfer of a franchise shall make a written request of the city for its approval.

(2)

Decision in writing. The city shall reply in writing within 120 days of the request indicating whether it grants or denies its approval; such approval shall not be unreasonably withheld.

(3)

Verification. An operator, upon sale or transfer, shall within 60 days after the sale or transfer submit to the franchise administrator a copy of the deed, agreement, mortgage, lease or other written instrument evidencing such sale, transfer of ownership, control or lease, certified and sworn to as correct by the operator.

(c)

Inquiry into qualifications. In reviewing a request for sale or transfer, the city may inquire into the financial, technical, legal or other relevant qualifications of the prospective controlling party, and a current operator shall assist the city in any inquiry.

(d)

Acceptance of franchise terms required. In no event shall any transfer or assignment of ownership or control be approved or effective without the transferee executing a document accepting the terms and conditions of the applicable franchise.

(Ord. No. 930358, § 1(43.24), 8-25-94)