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BERNICK AND LIFSON <br /> A PROFESSIONAL ASSOCIATION <br /> Although the rate-setting, marketing, and service approaches <br /> could be different under the proposed new management, the <br /> proposed financial transaction itself should not directly have <br /> a significant impact on these factors. <br /> **Later consultation with Mr. Smith and presentations at <br /> public hearings by Meredith indicated that the company would have <br /> available the option to infuse more capital or increase debt to <br /> make the capital improvements required by the various systems. <br /> Meredith stated in the public hearings that it would comply with <br /> all required technical upgrades of the system, and that its <br /> principals had a reputation in the industry for quality technical <br /> operations and experimentations into new technologies, when such <br /> advances warranted implementation. <br /> Based upon the information provided by the prospective owners, <br /> the analysis of Public Knowledge, and the above discussion, it <br /> would appear that the Commission could not reasonably withhold <br /> approval of the proposed transaction as a result of the financial <br /> factor of the analysis. <br /> VII. <br /> OTHER CONSIDERATIONS <br /> In the process of the analysis of the proposed transaction, <br /> numerous issues arose regarding system performance and Franchise <br /> requirements. Attached hereto as Exhibit A and made a part hereof <br /> is the recommended Resolution for Approving of the Transfer of <br /> Ownership of North Central Communications Corporation. In this <br /> Resolution is found the recommended resolution of issues identified <br /> at this time. Any approval of the proposed transaction should be <br /> contingent upon North Central 's compliance with the terms and <br /> conditions of this Resolution, should it be adopted by the City. <br /> Reference shouldbe made to this Resolution and the proposed <br /> conditio, • . • _ _ _ _ _ • _ <br /> approval of this proposed transaction. <br /> Although not attached to this document, the record of the <br /> proposed transaction includes the company's response to the <br /> Municipal Request for Information Regarding Request for Approval of <br /> Transfer of Ownership, supplemental written responses to subsequent <br /> questions of Commission and its consultants, and any additional <br /> written responses of the current and prospective owners of the <br /> cable system. The owners of the system will be considered to be <br /> bound by all such representations as well as continuing to be bound <br /> 9 <br />