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WHEREAS, the Commission has held a public hearing on <br />behalf of City and has reviewed the legal, technical, and <br />financial qualifications of North Central and finds no rea- <br />sonable basis to deny the request for transfer as a result <br />of said review; and <br />WHEREAS, the Commission has/recommended to City approval <br />of the transfer of control of Group W Cable of the North <br />Suburbs, Inc. to North Central subject to the actual closing <br />of the stock sale; and <br />WHEREAS, the Commission has also recommended approval of <br />a request by North Central to permit the pledge as security <br />to its lenders the stock and assets of North Central and its <br />subsidiaries, which would include Group W Cable of the North <br />Suburbs, Inc.; <br />WHEREAS, the City does'not object to such security <br />interest in the stock and assets. <br />NOW THEREFORE, BE IT RESOLVED by the City Council of the <br />City of <br />1. That the City hereby approves the sale by <br />Group W Cable, Inc. of all of the issued and <br />outstanding shares of the capital stock of <br />Group W Cable of the North Suburbs, Inc. and <br />the transfer of control of Group W Cable of <br />the North Suburbs, Inc. to North Central sub- <br />ject to an actual closing of the stock sale <br />transaction on or before December 31, 1986 <br />- 2 <br />