(A) The grantee’s right, title, or interest in the franchise shall not be sold, transferred, assigned, or otherwise encumbered, other than to an entity controlling, controlled by, or under common control with the grantee, without the prior consent of the franchising authority, the consent not to be unreasonably withheld. No consent shall be required, however, for a transfer in trust, by mortgage, by other hypothecation, or by assignment of any rights, title, or interest of the grantee in the franchise or cable system in order to secure indebtedness.
(B) Within 30 days of receiving the request for transfer, the franchising authority shall, in accordance with FCC rules and regulations, notify the grantee in writing of the information it requires to determine the legal, financial and technical qualifications of the transferee. If the franchising authority has not taken action on the grantee’s request for transfer within 120 days after receiving the request, consent by the franchising authority shall be deemed given.
(Ord. 1997-5F, passed 5-19-97)