1996-124 Council Resolution - Laserfiche WebLink

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Resolution 96- 124 RESOLUTION CONSENTING TO THE TRANSFER OF CONTROL OF AND CERTAIN OWNERSHIP INTERESTS IN A CABLE TELEVISION FRANCHISEE TO US WEST WHEREAS, the cable television franchise (the "Franchise") of the municipality of Lino Lakes (the "Authority") is currently owned and operated by Group W Cable of the North Central Suburbs d/b/a Meredith Cable Company ("Group W"), which is owned by Meredith/New Heritage Strategic Partnership, L.P. ("MNHSP"); and WHEREAS, the general partner of MNHSP, has entered into a Purchase Agreement dated March 15, 1996 with Continental Cablevision, Inc. ("Continental") whereby Group W will be owned by Continental (the "Meredith/Continental Agreement"); and WHEREAS, Continental will guarantee the Franchise obligations pursuant to a Corporate Guaranty; and WHEREAS, the Authority has consented to the transaction described in the Meredith/Continental Agreement; and WHEREAS, Continental intends on merging into US WEST, Inc. or a wholly owned subsidiary of US WEST, Inc., (herein collectively known as "US WEST") pursuant to that certain Agreement and Plan of Merger dated February 27, 1996 (the "Continental/US WEST Agreement"); and WHEREAS, Group W will continue to hold the Franchise; and WHEREAS, the Authority has received a request for consent to the merger of Continental and US WEST (the "Continental/US West Merger"); and WHEREAS, no notice of breach or default under the Franchise has been issued by Authority within the past 12 months and none is outstanding; and WHEREAS, the Authority has determined that subject to certain conditions which must be met, US WEST possesses the requisite legal, technical and financial qualifications; NOW, THEREFORE, BE IT RESOLVED, that the Continental/US West Merger is hereby consented to by the Authority and permitted conditioned upon: 1. Execution and delivery of a Corporate Guaranty from US WEST, Inc. in the form attached hereto; and