                                 CODE OF VIRGINIA

FEASIBILITY STUDY ON PROVIDING CABLE TELEVISION SERVICES (§ 15.2-2108.6)

A. Upon the hiring of a feasibility consultant under § 15.2-2108.5, the
governing body of the municipality shall require the feasibility consultant to:

   1. Complete the feasibility study in accordance with this section;

   2. Submit to the governing body by no later than 180 days from the date the
   feasibility consultant is hired to conduct the feasibility study the full
   written results of the feasibility study, and a summary of the results that is
   no longer than one page in length; and

   3. Attend the public hearings required by &#xA7; 15.2-2108.7, if held, to: (i)
   present the feasibility study results and (ii) respond to questions from the
   public.

B. The feasibility study described in subsection A shall at a minimum consider:

   1. If the municipality is proposing to provide cable television services to
   subscribers, whether the municipality providing cable television services in
   the manner proposed by the municipality will hinder or advance competition for
   cable television services in the municipality;

   2. Whether but for the municipality any person would provide the proposed
   cable television services;

   3. The fiscal impact on the municipality of: (i) the capital investment in
   facilities that will be used to provide the proposed cable television services
   or (ii) the expenditure of funds for labor, financing, and administering the
   proposed cable television services;

   4. The projected growth in demand in the municipality for the proposed cable
   television services;

   5. The projections at the time of the feasibility study, and for the five
   years immediately thereafter, of a full-cost accounting for a municipality to
   purchase, lease, construct, maintain, or operate the facilities necessary to
   provide the proposed cable television services; and

   6. The projections at the time of the feasibility study and for the five years
   immediately thereafter of the revenues to be generated from the proposed cable
   television services.

C. For purposes of the financial projections required under subdivisions B 5 and
B 6 of this section, the feasibility consultant shall assume that the
municipality will price the proposed cable television services consistent with
subsection E of &#xA7; 15.2-2108.11.

D. The governing body of the municipality shall determine whether the average
annual revenues under subdivision B 6 exceed the average annual costs under
subdivision B 5 by at least the amount necessary to meet the bond obligations of
any bonds issued to fund the proposed cable television services based on the
feasibility study&#8217;s analysis for the first year of the study and the
five-year projection, and separately stated with respect to the proposed cable
television services.

HISTORY: 2003, c. 677.