(A) Notification of Change. An entity shall notify the village no less than 30 days prior to the transfer of ownership of any facility in the right-of-way or change in identity of the entity. The new owner of the entity or the facility shall have all the obligations and privileges enjoyed by the former owner under the permit, if any, and all applicable laws, ordinances, rules and regulations, including this chapter, with respect to the work and facilities in the right-of-way.
(B) Amended Permit. A new owner shall request that any current permit be amended to show current ownership. If the new owner fails to have a new or amended permit issued in its name, the new owner shall be presumed to have accepted, and agreed to be bound by, the terms and conditions of the permit if the new owner uses the facility or allows it to remain on the village's right-of-way.
(C) Insurance and Security. All required insurance coverage along with any bonds or letter(s) of credit shall be changed to reflect the name of the new owner upon transfer.
(Ord. 1420-07, passed 12-18-07)