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• <br />COUNCIL MEETING <br />October 27, 1986 <br />of the North Central Suburbs, Inc., a wholly -owned subsidiary, <br />owns, 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 Ordi- <br />nance"); and <br />WHEREAS, Group W Cable desires to sell and otherwise <br />transfer all of the issued and outstanding shares of the <br />capital stock of Group W Cable of the North Central Suburbs, <br />Inc. to North Central Cable Communications Corporation (here- <br />inafter "North Central ") and thereby transfer control of <br />Group W Cable of the North Central Suburbs, Inc., to North <br />Central; and <br />WHEREAS, Group W Cable has requested the consent from <br />the City to a change in ownership and control of Group W <br />Cable of the North Central Suburbs, Inc., to North Central; <br />and <br />WHEREAS, the North Central Suburbs Cable Communications <br />Commission (hereinafter "Commission ") has been delegated <br />the authority and responsibility to coordinate, administer <br />and enforce the Cable Communications Franchise Ordinance on <br />behalf of City pursuant to the terms of a Joint and Coopera- <br />tive Agreement for the Administration of a Cable Television <br />Franchise; and <br />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 <br />reasonable basis to deny the request for transfer as a re- <br />sult of said review; and <br />WHEREAS, the Commision has recommended to City approval <br />of the transfer of control of Group W Cable of the North Central <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 <br />its subsidiaries, which would include Group W Cable of the <br />North Central 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 Lino Lakes: <br />039 <br />