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07-27-1992 CC
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07-27-1992 CC
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MV City Council
City Council Document Type
City Council Packets
Date
7/27/1992
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RESOLUTION NO. 4263 <br /> PAGE THREE OF EIGHT <br /> WHEREAS, the City does not object to such security interest in <br /> the stock and assets. <br /> NOW THEREFORE, BE IT RESOLVED, by the City Council of the City <br /> of Mounds View that: <br /> 1. The City hereby approves the sale and transfer <br /> by Transferors of all of their shares of the <br /> capital stock of North Central, together with <br /> 11 . - . . : - . - . - - . , - . . ect to <br /> an actual closing of the stock sale <br /> transaction on or before December 31, 1992, <br /> pursuant to the terms and conditions as <br /> evidenced by the Notice of Transfer to said <br /> Commission and City and all written <br /> representations from Transferors, Transferee, <br /> Meredith/New Heritage Partnership, its <br /> subsidiaries, employees, agents, partners, <br /> parent corporations and North Central, and <br /> further subject to the terms and conditions of <br /> this Resolution. <br /> 2. The City approves the pledge by Transferee, <br /> Meredith/New Heritage Partnership, and North <br /> Central as security to their lenders the stock <br /> and assets of North Central and its <br /> subsidiaries subject to the terms and <br /> conditions of this Resolution. <br /> 3. This Resolution constitutes all action and <br /> approvals of the City necessary under the <br /> City's Franchise for the sale and transfer of <br /> control to Transferee. <br /> 4. The City's approval of the above named <br /> transfer of owneLship of North Central is <br /> further conditioned upon the following: <br /> a. North Central shall have corrected <br /> all technical discrepancies in the <br /> cable system of City as delineated <br /> in the report of Communications <br /> Support Corporation (hereinafter <br /> "CSC") No. 92010. 001, and its <br /> addendum No. 92010.A01, and as <br /> represented as correct pursuant to <br /> the letter from Mr. Kevin Griffin to <br /> Ms. Coralie Wilson dated June 17, <br /> 1992, unless otherwise qualified, <br /> below. <br />
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