(1) Notification and Election. When a provider is the subject of a sale, transfer, lease, assignment, or sublease or is disposed of, in whole or in part, either by forced or involuntary sale, or by ordinary sale, consolidation, or otherwise, such that it or its successor entity is obligated to inform or seek the approval of the PSC, the provider or its successor entity shall promptly notify the City of the nature of the transaction. The notification shall include either:

(2) Transfer of Franchise. Upon receipt of a notification and certification in accordance with Subsection 20-5-701(1)(a), the City designee, as provided in Subsection 20-5-901(1), shall send notice affirming the transfer of the franchise to the successor entity. If the City has good cause to believe that the successor entity may not comply with this Ordinance or the franchise agreement, it may require an application for the transfer. The application shall comply with Part 5 of this Chapter.

(3) If PSC Approval No Longer Required. If the PSC no longer exists, or if its regulations or state law no longer require approval of transactions described in Section 20-5-701, and the City has good cause to believe that the successor entity may not comply with this Ordinance or the franchise agreement, it may require an application. The application shall comply with Part 5.