(A) The company shall not transfer or assign any rights under this franchise or lease total capacity of its system or network to another entity unless the city shall first review the financial, technical and operational qualifications of such entity and give its approval, in writing, in 60 days which approval shall not be unreasonably withheld. This prohibition shall not apply in the instance that the company is transferred, assigned, or sold to an affiliated interest as that term is defined at § 62-3-3.A, NMSA 1978, or successor statute, nor shall this prohibition apply to assignments made or security interests granted in order to secure financing. However, the company agrees to provide at least 30 days advance notice of any affiliate transfer, assignment or sale. The city shall have the discretion to review the financial, technical and operational qualifications of the affiliate.
(B) In order that the city might share in the value this franchise adds to the company's operation, any such transfer or assignment of any rights under this franchise by the company, subject to the exceptions listed in division (A) above, shall be subject to the conditions that the transferee promptly pay the city 20% of any and all fees paid to the city including the franchise fee paid to the city in the previous calendar year, which amount the company and the city agree is reasonable, and that such transfer fee shall not be recovered from the city or from city residents or property owners through rates or surcharges of the company.
(Ord. 50-1995)