The grantee shall not sell, assign, transfer, or convey this franchise to a third party without the City Council giving its consent in a duly passed ordinance. Upon obtaining such consent, this franchise shall inure to and bind such third party. The grantee shall not sell or assign this franchise to an entity that is not authorized by the OPUC to provide electric service to retail consumers in the city or is not otherwise authorized to provide electric service to retail consumers under Oregon law. Prior to any proposed transfer, the grantee shall be in full compliance with this franchise and the proposed transferee shall agree in writing to be bound by this franchise. In the event the grantee is purchased by or merged into another entity and the grantee survives such purchase or merger as a public utility, the grantee shall provide notice to the city of such purchase or merger, but shall have no obligation under this franchise to obtain the consent of the City Council for such purchase or merger.
(Ord. 2010-03-01, passed 3-10-2010; Ord. 2010-04-01, passed 5-13-2010)