The company shall not transfer or assign any rights under this
franchise to an unaffiliated third party, except by merger with such
third party, or, except when the transfer is made in response to legislation
or regulatory requirements, unless the City approves such transfer
or assignment in writing. Approval of the transfer or assignment shall
not be unreasonably withheld.
In order that the City may share in the value this franchise
adds to the company’s operations, any transfer or assignment
of rights granted under this franchise requiring City approval, as
set forth herein, shall be subject to the condition that the company
shall promptly pay to the City a transfer fee in an amount equal to
the proportion of the City’s then-population provided utility
service by the company to the then-population of the City of Grand
Junction provided utility service by the company multiplied by $1,000,000.
Except as otherwise required by law, such transfer fee shall not be
recovered from a surcharge placed only on the rates of residents.