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99 <br /> -3 <br /> final decision on the request within that 120 day period, such request shall be deemed <br /> granted unless the Grantee and the City agree to an extension of time. <br /> C. Any sale,transfer or assignment authorized by the City shall be made by <br /> a bill of sale or similar document, an executed copy of which shall be filed with the city <br /> within thirty (30) days after any such sale, transfer or assignment. The City shall not <br /> withhold consent unreasonably;provided, however,the proposed assignee or new owner <br /> agrees to comply with the Cable Act and all the provisions of this ordinance and the <br /> Franchise Agreement, including amendments thereto, and must be able to provide proof <br /> of legal, technical and financial qualifications and ability to operate and maintain the <br /> System, as determined by the City. <br /> D. No such consent shall be required for a transfer in trust, mortgage, or <br /> other instrument of hypothecation, in whole or in part, to secure an indebtedness except <br /> when such hypothecation shall exceed seventy-five percent (75%) of the Fair Market <br /> Value of the property used by the Grantee in the operation of its Cable Television <br /> System. Prior consent of the City shall be required for such transfer and said consent <br /> shall not be withheld unreasonably. <br /> E. Prior approval of the City shall be required were ownership or control of <br /> a majority of outstanding shares of the Grantee is acquired during the term of the <br /> Franchise in any transaction or series of transactions by a Person or group of Persons <br /> acting in concert, none of whom owned or a majority of the outstanding shares or more <br /> of such right of control, singularly or collectively on the effective date of the Franchise. <br /> F. The consent of the City to any sale, transfer, lease, trust, mortgage, or <br /> other instrument of hypothecation shall not constitute a waiver or release of any of the <br /> rights of the City under this ordinance and the Franchise Agreement. <br /> G. In the event of any acquisition, transfer or abandonment of the System, <br /> the Grantee shall promptly supply the City with all records necessary to reflect the <br /> change in ownership and for the continued operation and maintenance of the System. <br /> SECTION 3: ARTICLE III-Subscriber Fees, Service, Bills and Records: <br /> 3.1 Subscriber Fees, Service and Bills: <br /> A. The City hereby adopts and will adhere to those rules and regulations <br /> established and adopted by the FCC pursuant to Title 47, Section 543, et. seq., of the <br /> United States Code, as amended from time to time, for the regulations of Basic Cable <br /> Service (including rate regulations of Basic Cable Service and associated equipment, <br /> installation and service charges). In connection therewith, the City will ensure that there <br /> is a reasonable opportunity for the consideration of the views of interested parties. <br /> B. All charges to Subscribers shall be consistent with a schedule of rates for <br /> all services offered as established by the Grantee. Changes in the schedule for Basic <br /> Cable Service rates, and for associated equipment and installation charges, shall not take <br /> effect until(1)notification of same is delivered to the City and to current Subscribers and <br />