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1986_Ordinances
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1986_Ordinances
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• B. The Company shall promptly notify the City of any actual <br />or proposed change in, or transfer of, or acquisition by any other <br />party of, control of the Company. The word "control" as used <br />herein is not limited to major stockholders but includes actual <br />working control in whatever manner exercised. Every change, <br />transfer, or acquisition of control of the Company shall make the <br />franchise subject to termination unless and until the City shall <br />have consented thereto, but such consent will not be unreasonably <br />withheld. For the purpose of determining whether it shall consent <br />to such change, transfer, or acquisition of control, the City may <br />inquire into the qualifications of the prospective controlling <br />party, and the Company shall assist the City in any such inquiry. <br />C. Notwithstanding the provisions of this section, the City <br />may not base any refusal to approve a transfer of ownership or <br />control on the prospective new owner's ownership or control of <br />other communications media, local control of such issues having <br />been prohibited by federal action in Section 613(d) of the Act. <br />D. Within 30 days of notice of any proposed sale of the <br />Company or the system, the City may offer to purchase the same at <br />a price and on terms and conditions no less favorable to the <br />Company than are offered by the proposed transferee. If the <br />proposed sale is part of a transaction involving other Company <br />property or systems, the City's offer will be considered only if <br />• it extends to all property or systems involved in the proposed <br />transaction, with the expectation that the City will resell those <br />properties and systems outside of the City and adjacent portions <br />of Albemarle County. <br />• <br />S'� <br />
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