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sections of this ordinance. Such allocation shall be made to a special com- mittee, consisting of five persons designated by the City Council and serving without compensation, upon which City and Company representatives shall sit. The determination of the use of all available funds shall be a responsibility of the committee. The committee shall prepare detailed budgets and expense statements for the review of the City Council. Section 9. Transfer of Ownership or Control a) Any franchise granted hereunder shall be a privilege to be held for the benefit of the public. This franchise shall not be assigned or transferred either in whole or in part, or leased, sublet, or mortgaged in any manner, nor shall title thereto, either legal or equitable, or any right, interest or prop- erty therein, of the City. wholly-owned pass to or vest in The Company may, subsidiary of the any person without the prior written consent however, transfer or assign the franchise to m Company and such subsidiary may transfer or assign the franchise back to the Company without such consent. The proposed assignee must show finaacial responsibility as determined by the City and must agree to comply with all provisions of the franchise, and then only under such conditions as the City may establish. Such consent as required by the City, shall, however, not be unreasonably withheld. b) The Company shall promptly notify the City of any actual or pro- posed change in, or transfer of, or acquisition by any other party of, control of the Company. The word "control" as used herein is not limited to major stockholders but includes actual working control in whatever manner exercised. A rebuttable presumption that a transfer of control has occurred shall arise upon the acquisition or accumulation by any person or group of persons of ten percent (10%) of the voting shares of the Company. Every change, transfer, or acquisition of control of the Company shall make the franchise subject to cancellation unless and until the City shall have consented thereto, which consent will not be unreasonably withheld. For the purpose of determining whether it shall consent to such change, transfer, or acquisition of control, the City may inquire into the legal, financial, character, technical and other public interest qualities of the prospective controlling party, and the Company shall assist the City in any such inquiry. 27