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WHEREAS, the Commission has held a public hearing on <br /> • behalf of City and has reviewed the legal, technical, -and <br /> financial qualifications of North Central and finds no rea- <br /> sonable basis to deny the request for transfer as a result <br /> of said review; and <br /> WHEREAS, the Commission has recommended to City approval <br /> of the transfer of control of Group W Cable of the North <br /> Suburbs, Inc. to North Central subject to the actual closing <br /> of the stock sale; and <br /> WHEREAS, the Commission has also recommended approval of <br /> a request by North Central to permit the pledge as security <br /> to its 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 Si. Anthony <br /> 1. That the City hereby approves the sale by <br /> Group 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 <br /> the North Suburbs, Inc. to North Central sub- <br /> ject to an actual closing of the stock sale <br /> transaction on or before December 31, 1986 <br /> 2 - <br />