Agenda Packets - 1986/10/13 - Laserfiche WebLink

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RESOLUTION NO. 2114 CITY OF MOUNDS VIEW !!! COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION NO. 2114 APPROVING THE TRANSFER OF OWNERSHIP OF GROUP W CABLE OF THE NORTH SUBURBS, INC. WHEREAS, Group W Cable, Inc., a New York Corporation (hereinafter "Group W Cable"), by and through Group W Cable of the North Suburbs, .Inc., a wholly -owned subsidiary, owns, operates and maintains a cable television system in the City pursuant to the terms and conditions of City Ordinance No. 319 (hereinafter "Cable Communications Franchise Ordinance"); and WHEREAS, Group W Cable desires to sell and otherwise transfer all of the issued and outstanding shares of the capital stock of Group W Cable of the North Suburbs, Inc., to North Central Cable Communications Corporation (hereinafter "North Central") and thereby transfer control of Group W Cable of the North Suburbs, Inc., to North Central; and WHEREAS, Group W Cable has requested the consent from `— the City to a change in ownership and control of Group W Cable of the North Suburbs, Inc. to North Central; and WHEREAS, the North Suburbs Cable Commission (hereinafter "Commission") has been delegated the authority and responsibility to coordinate, administer and enforce the Cable Communications Franchise Ordinance on behalf of City pursuant to the terms of a Joint and Cooperative Agreement for the Administration of a Cable Television Franchise; and WHEREAS, the Commission has held a public hearing on behalf of City and has reviewed the legal, technical, and Einar.-ial qualifications of North Central and finds no rea- sonable basis to deny the request for transfer as a result of said review; and WHEREAS, the Commission has, recommended to City approval of the transfer of control of Group W Cable of the North Suburbs, Inc. to North Central subject to the actual closing of the stock sale; and