The Grantee shall not sell or otherwise convey its plant, system, or franchise to another without prior consent of the Town Council. Too, no sale or conveyance shall be effective until the purchase, assignee, or lessee has filed in the office of the Town Clerk an instrument duly executed reciting the fact of the sale or conveyance accepting the terms of the franchise and agreeing to perform all the conditions thereof. Such Council consent shall be both unreasonably withheld, and nothing herein shall preclude the encumbrance of certain rights in the system by the Grantee for financing purposes. (Ord. 258-N, §1, 1998)