(A) Prior approval of the City of Lawrence shall be required before a franchise granted by the City shall be assigned or transferred, either in whole or in part, or leased or sublet in any manner, nor shall title thereto, either legal or equitable, or any right, interest or property therein, pass to or vest in any person or entity until prior approval is granted.
(B) The proposed transferee shall make a written verified application for approval of the transfer. The application shall provide complete information regarding the proposed transfer, including:
(1) Documents embodying the transaction;
(2) Financing documents, if any;
(3) Documents describing the proposed transferee;
(4) Documents identifying any person or entity who will be responsible, through any arrangement, for managing or controlling the system;
(5) Documents showing that the proposed transferee has the financial, technical and legal ability to operate the system after the transfer so as to satisfy all its obligations under the franchise without adversely affecting subscribers; and
(6) Other information as may be required in any ordinance governing applications for a franchise.
(C) The City of Lawrence shall render a final decision on the operator’s request in writing within 120 days of the date the City receives the information specified above and information required by federal law. The City of Lawrence may seek additional information from the operator or the proposed transferee and both will cooperate to provide the information to the City. The City of Lawrence shall be under no obligation to transfer the franchise if the operator’s acts or omissions make the franchise subject to revocation, nor shall the City be required to transfer unless it is fully satisfied that past nonperformance will be corrected, claims that could be considered as part of any renewal proceeding are fully preserved to the extent permitted by law, and the proposed transferee has the ability and is likely to comply with the franchise agreement for the future. By way of illustration and not limitation, under no circumstances will the franchise be transferred unless the proposed transferee agrees to accept all the terms and conditions of the franchise agreement except to the extent that the City of Lawrence may be willing to expressly modify the terms and conditions as part of the approval of the transfer. Approval of transfer does not constitute a waiver of any rights by the City of Lawrence or indicate that the operator is or has been in compliance with the franchise agreement or applicable law. The City of Lawrence may conduct the public hearings as it deems appropriate to consider the transfer request.
(D) The operator, upon transfer, shall within 60 days file with the City of Lawrence a copy of the deed, agreement, mortgage, lease or other written instrument evidencing transfer of ownership control or lease of the system, certified and sworn to as correct by the operator.
(E) A transfer shall include any sale of system assets, a transfer of the franchise itself or a change in control or ownership of the operator. The term “control” includes actual working control in whatever manner exercised, and there shall be a rebuttable presumption that a transfer shall have occurred upon acquisition or accumulation by any person or entity of 5% of the shares or interest in the operator or any entity which owns or controls the operator.