(A) The franchise may not be assigned or transferred, in whole or part, or leased or sublet or mortgaged by any means without prior consent, which consent shall not unreasonably be withheld. A change of control or ownership of the company shall be considered a transfer. The term "control" includes actual working control in whatever manner exercised, and shall be deemed to have occurred upon acquisition or accumulation by any person of ten percent of the shares or interests in the company or any entity which directly or indirectly owns or controls the company. The company and the proposed transferee must cooperate in the city's investigation of the transfer and each is required to provide pertinent documents and respond to reasonable requests for information, including specifically, requests for projections regarding the financial performance and rates of the system after transfer.
(B) In reviewing a request for a transfer, the city may consider, but is not limited to considering, the following factors, except as prohibited by federal law:
(1) The ability of transferee to satisfy all terms and conditions of franchise and to continue to provide service at a reasonable price;
(2) The financial, technical and legal qualifications of transferee (including character qualifications);
(3) The proposed transferee's record of performance in other canmunities and plans for management of Camden system;
(4) Whether there are outstanding franchise compliance issues; whether proceedings to terminate the franchise have commenced; or whether the transfer would adversely affect the rights of the city under the franchise;
(5) Whether transferee understands and is willing to accept all obligations under the franchise, including its duty to correct all past deficiencies, if any; and whether the transferee is willing to sign the franchise and transfer documents;
(6) Whether the transfer will adversely affect service to the public;
(7) Whether the transferee and the company have provided information necessary to evaluate the transfer request; and
(8) Not withstanding the foregoing, transfer to a parent or affiliate corporation with the same ownership and control shall not require consent of the city, provided the city is given 60 days notice in writing.
(Ord., passed 8-25-92)