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RESOLUTION No. 2114 <br />PAGE TWO <br />r <br />WHEREAS, the Commission has also recommended approval of a <br />request by North Central to permit the pledge as security to its <br />lenders the stock and assets of North Central and its <br />subsidiaries, which would include Group W Cable of the North <br />Suburbs, Inc.: <br />WHEREAS, the City does not object to such security <br />Interest in the stock and assets. <br />NOW THEREFORE, BE IT RESOLVED by the City Council of the <br />City of Mounds View: <br />ATTEST: <br />I. That the City hereby approves the sale by <br />Croup W Cable, Inc. of all of the issued and <br />outstanding shares of the capital stock of <br />Group W Cable of the North Suburbs, Inc. and <br />the transfer of control of Group W Cable of r <br />the North Suburbs, Inc. to North Central sub- <br />ject to an actual closing of the stuck sale <br />transaction on or before December 31, 1986 <br />pursuant to the terms and conditions as <br />evidenced by the Notice of Transfer to said <br />Commission and City and all written repre- <br />sentations from North Central associated it <br />therewith. <br />2. The City approves the pledge by North Central <br />as security to its lenders the stock and ) <br />assets of North Central and Group W of the <br />North Suburbs, Inc. <br />'Y <br />Adopted this 27th day of November, 1986. <br />Mayor <br />(SEAL) <br />Clerk -Administrator - - <br />,\ J <br />