HomeMy WebLinkAboutResolution 86-73RESOLUTION 86-73
RESOLUTION APPROVING THE EXTENSION OF
TIME FOR DELIVERY OF CERTAIN DOCUMENTS
REQUIRED BY THE TRANSFER OF STOCK OF
GROUP W CABLE OF COLUMBIA HEIGHTS/
HILLTOP, INC. FROM GROUP W CABLE, INC.
TO NORTH CENTRAL CABLE COM/4I/NICATIONS
CORPORATION
WHEREAS, the City of Columbia Heights (hereinafter "City")
passed and adopted on October 27, 1986 a Resolution (hereinafter
"RESOLUTION") whereby the City consented to and approved the
transfer of stock from Group W Cable of Col~bia Heights/
Hilltop, Inc. from Group W Cable, Inc. to North Central Cable;
and
WHEREAS, t~e RESOLUTION at Section 4 required North Central
to submit certain documents to the City within thirty (30)
days of the date of the RESOLUTION; and
WHEREAS, the documents required to be submitted were not
provided to the City within the time required; and
WHEREAS, the RESOLUTION provided that in the event North
Central failed to provide the documents within the time
specified, unless the time was extended by the City, the
RESOLUTION and any and all approvals set forth therein would be
null and void; and
.WHEREAS, North Central has'delivered to the City,
of thls date, all of the documents required by Section ~sof the
RESOLUTION and has reimbursed the .City for all costs and
expenses incurred by the City as a result of its review and
approval.
NOW, THEREFORE, BE IT RESOLVED by the City of Columbia
Heights as follows:
1. The time for certain documents to be submitted to the
City under the RESOLUTION is hereby extended to the date
set forth below and all approvals contained in the RESOLUTION are'
reaffirmed.
2. The City hereby acknowledges receipt of the
following:
A. A certificate duly executed and acknowledged by
Mr. John D. Evans, Chief Financial Officer, of North Central
containing certain representations regarding the Business
Plan.
Page Two
B. A Guaranty Agreement in which North Central
guarantees performance of all of the obligations of Group W
Cable of Columbia Heights/Hilltop, Inc. under the Franchise.
C. The reimbursement of all costs and expenses
incurred by the City as a result of its review and
approval of the transaction.
Passed and adopted this ~ day of December, 1986.
ATTEST BY BY
ITS ITS
Offered' by: Pau'lson
Seconded by: Peterson
Roll call: Alt byes
/Anne Student, Council Secretary
M y r~Bruce G Nawrocki