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, , <br />; - <br />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; an8 <br />WHEREAS, the Commission has�recommended to City approval <br />of the transfer of contro� 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 recommencled approval of <br />a request by North Central to permit the pledge as sec�rity <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 THEREFQRE., BE IT RESOLVED by the City Couricil of the <br />;' City of Arden Hills : <br />,j' 1. � That the City hereby approves the sale by , <br />� . <br />Group W Cable, Inc. o€ all of the issued and <br />� outstanding shares o€ 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 �ecember 31, 1986 <br />- 2 - <br />, <br />y <br />