The execution of a right-of-way agreement is a privilege to be held in personal trust by licensee. Subject to applicable law, no right-of-way agreement or any facility permitted thereunder shall be sold, leased, licensed, assigned, disposed of or otherwise transferred, in whole or in part, either by involuntary or voluntary sale, merger, consolidation, stock transfer, transfer in trust or otherwise without the prior written consent of the city and then only under such conditions as may be prescribed therein. A sale or transfer of stock, assets or other equitable interests of licensee, or of any parent, subsidiary or other affiliate or licensee, which effects a material change in licensee’s ownership or control, as determined by the city, shall be deemed to be a transfer for purposes of this section. Any transfer shall be made only by an instrument in writing, such as a bill of sale, or similar document, a duly executed copy of which shall be filed in the office of the City Clerk within 30 days after any such transfer or assignment. The consent of the City Council to a transfer may not be arbitrarily refused. Any proposed transferee must show responsibility and capability as determined by the City Council and must agree to comply with all provisions of the right-of-way agreement and this chapter. No consent shall be required for a transfer in trust, mortgage or other hypothecation, in whole or in part, to secure any indebtedness.
(`78 Code, § 12.32.140.) (Ord. 2458 § 2, 2000; Ord. 2418 § 1, 1999.)