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WHEREAS, the Commission has reviewed the legal, tech- <br />r.ical, and financial qualifications of North Central and <br />found no reasonable basis to deny the transfer of Group W <br />Cable of the North Suburbs, Inc. to North Central; and <br />WHEREAS, North Central has requested as part• of the <br />transfer request the Member Cities' consent to allow for the <br />pledge as security to its lenders the stock and assets of <br />North Central and its subsidiaries, which would include <br />Group W Cable of the North Suburbs, Inc.; <br />WHEREAS, the Commission does not object to such security <br />interest in the stock and assets. <br />NOW THEREFORE, BE IT RESOLVED by the North Suburban <br />Cable Commission: <br />1. That the North Suburban Cable Commission recommends <br />to its Member Cities approval by resolution of the sale by <br />Group W Cable, Inc. of all of the issued and outstanding <br />shares of the capital stock of Group W Cable of the North <br />Suburbs, Inc. to North Central subject to an actual closing <br />of the stock sale transaction by December 31, 1986 pursuant <br />to the terms and conditions as evidenced by the Notice of <br />transfer to said Commission and its Member Cities and all <br />written representations from North Central associated there- <br />with. <br />2. That the North Suburban Cable Commission recom- <br />mends to its Member Cities approval by resolution of North <br />Central's pledge as security to its lenders the stock and <br />- 2 - <br />