Laserfiche WebLink
1 <br />1 <br />067 <br />COUNCIL MEETING <br />May 12, 1986 <br />Page Two <br />RESOLUTION #86 -06, TRANSFER OF OWNERSHIP OF GROUP W CABLE INC. <br />Mr. Schumacher explained this is the first part of a two part <br />transaction to transfer ownership of Group W Cable, Inc. This <br />resolution would only give Council consent to sell Group W Ca- <br />ble, Inc. The Cable Commission has recommended approval of this <br />resolution. <br />Mr. Bisel asked what effect would this transaction have on the <br />citizens of Lino Lakes. Mr. Cusick said none. <br />Mr. Bisel moved to adopt Resolution #86 -06 and dispense with the <br />reading. Mr. Bohjanen seconded the motion. Motion carried unani- <br />mously. <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF LINO LAKES <br />RESOLUTION NO. 86 -06 APPROVING <br />THE TRANSFER OF OWNERSHIP <br />OF GROUP W CABLE, INC. <br />WHEREAS, Group W Cable, Inc., a New York Corporation (hereinafter <br />"Group W Cable "), by and through Group W Cable of the North <br />Central Suburbs, Inc., a wholly -owned subsidiary, owns, <br />operates and maintains a cable television system in the <br />City pursuant to the terms and conditions of City Ordinance <br />No. 83 -08 (hereinafter "Cable Communications Franchise Ordin- <br />ance"); and <br />WHEREAS, Group W Cable's parent corporation, Westinghouse Broadcasting <br />and Cable, Inc., an Indiana Corporation (Hereinafter "Westing- <br />house") desires to sell and otherwise transfer all of the issued <br />and outstanding shares of the capital stock of Group W Cable <br />to Century Southwest Cable Television, Inc., a Delaware <br />Corporation; and affiliates of, or subsidiaries or partnerships <br />