A utility or permittee shall notify the village in writing no less than thirty days prior to the transfer of ownership of any facility located in the right of way or change in identity of the utility, stating the name, address and telephone number of the proposed new owner. Any new owner of the utility or the facility shall have all the obligations and privileges enjoyed by the former owner under any pending permit and all applicable laws, ordinances, rules and regulations, including this chapter, with respect to the work and facilities in the right of way. All required insurance coverage or bonding shall be changed to reflect the name of the new owner upon transfer. (Ord. 2898, 11-13-2000)