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05/12/1986 Council Minutes
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05/12/1986 Council Minutes
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City Council
Council Document Type
Council Minutes
Meeting Date
05/12/1986
Council Meeting Type
Regular
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1 <br />1 <br />1 <br />COUNCIL MEETING 069 <br />May 12, 1986 <br />Page Four <br />Ordinance, as amended; and <br />WHEREAS, the Commission has recommended to City approval of <br />the transfer of control of Group W Cable to Buyers subject <br />to the actual closing of the stock sale in June, 1986; and <br />tHEREAS, the Commission and City have been advised by Group W <br />Cable and the Buyers that the approval of such stock transfer <br />to Buyers shall in no way be interpreted as an approval, <br />either express or implied, of the transfer of ownership <br />and control and ultimate transfer of the Cable Communications <br />Franchise Ordinance to North Central Cable Communications, L.P. <br />IOW THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Lino Lakes: <br />1 That the City hereby approves the sale by Westinghouse of <br />all of the issued and outstanding shares of the capital <br />stock of Group W Cable, Inc. and the transfer of control <br />of Group W Cable, Inc. to the Buyers subject to an actual <br />closing of the stock sale transaction in June, 1986 pursuant <br />to the terms and conditions currently understood by the <br />City as evidenced -by the Notice of Transfer to said Commission <br />and City. <br />2. That the approval of the transfer of ownership and control <br />of Group W Cable, Inc. to the Buyers is hereby deemed not <br />to include any approval, either express or implied, as to <br />any subsequent transfer of ownership or control or transfer <br />of the Cable Communications Franchise Ordinance to North <br />Central Cable Communications, L.P., or to any other entity <br />or individual. <br />
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