The license shall not be sublet or assigned, nor shall any of the rights or privileges therein granted or authorized be leased, assigned, sold or transferred, either in whole or in part, nor shall title thereto, either legal or equitable, or any right, interest or property therein, pass to or vest in any person, except the licensee, either by act of the licensee or by operation of law, without the prior written consent of the City by ordinance. The granting of such consent shall not render unnecessary any subsequent consent.

The licensee, upon transfer as heretofore described, and having, prior to such transfer, obtained the written consent of the City, shall within 60 calendar days thereafter file with the City a copy of the deed, agreement, mortgage, lease, or other written instrument evidencing such sale, transfer or lease, certified and sworn to as correct by the licensee.

Every such transfer as heretofore described, whether voluntary or involuntary, shall be deemed void and of no effect unless licensee shall within 60 calendar days of the transfer, file such certified copy as is required.

Nothing in this section shall be deemed to prohibit a pledge or hypothecation or mortgage or similar instrument transferring conditional ownership of all or part of the system’s assets to a lender or creditor in the ordinary course of business. In the event a lender assumes control of the assets and operation of the licensee through a default of the licensee in loan obligations, the lender may assume the rights and obligations of the licensee. The lender may not transfer or change control of the license without submitting the change to the City for approval. If the lender does continue operation on any basis at any time, he shall be subject to all provisions of the license. No later than three years after assumption of control by the lender, the lender shall apply to the City for the right to continue assumption of control or to transfer the license. Application by the lender for approval of such assumption of control or transfer shall be subject to all provisions set forth herein on written consent by the City Council and shall not be unreasonably denied or upheld. A “lender” as discussed herein shall not include a company, person or corporation or other entities who operate industrial gas pipeline systems as a principal or important business. This paragraph is intended to prohibit the intentional use of lending and/or foreclosure as a method for effecting change of control or transfer of the license without City Council review and approval. (Ord. No. G-2199, § 1; Ord. No. G-3961, § 1, 1996; Ord. No. G-7028, § 4, 2022)