(A) No franchise will be granted pursuant to an initial application unless all requirements and demands of the Town regarding financial, contractual, shareholder and system disclosure have been met.
(B) Applicants, including all shareholders and parties with an interest equal to or greater than 10% of the shares of stock of an applicant, shall fully disclose all agreements and undertakings, whether written or oral, or implied with any person, firm, group, association or corporation with respect to a franchise and the proposed cable system. This section shall include, but not be limited to, any agreements between local applicants and national companies.
(C) Applicants, including all shareholders and parties with an interest equal to or greater than 10% of the shares of stock of an applicant, shall submit all requested information as provided by the terms of this chapter. The requested information must be complete and verified as true by the applicant.
(D) Applicants, including all shareholders and parties with an interest equal to or greater than 10% of the shares of stock of an applicant, shall disclose the numbers of shares of stock and the holders thereof and shall include the amount of consideration for each share of stock and the nature of the consideration.
(E) Applicants, including all shareholders and parties with an interest equal to or greater than 10% of the shares of stock of an applicant, shall disclose any information required by the Town regarding other cable systems in which they hold an interest of any nature, including, but not limited to, the following:
(1) Locations of all other franchises and the dates of award for each location;
(2) Estimated construction costs and estimated completion dates for each cable system;
(3) Estimated number of miles of construction and number of miles completed in each cable system as of the date of any initial application; and
(4) Date for completion of construction as promised in any initial application for each system.
(F) Applicants, including all shareholders and parties with an interest equal to or greater than 10% of the shares of stock of an applicant, shall disclose any information required by the Town regarding pending applications for other cable systems, including, but not limited to, the following:
(1) Location of other franchise applications and date of any application;
(2) Estimated dates of franchise awards;
(3) Estimated number of miles of construction; and
(4) Estimated construction costs.
(`83 Code, § 13-545)