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<br />enforce the Cable Communications Franchise Ordinance on <br /> <br />behalf of City pursuant to the terms of a Joint and Coopera- <br />tive Agreement for the Administration of a Cable Television <br /> <br />Franchise; and <br /> <br />WHEREAS, the Commission has held a public hearing on <br />behalf of City; and has reviewed the legal, technical, and <br />financial ~alifications 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 />NIIEREAS, ttle Commission has recommended to City approval <br />of the transfer of control of Group W Cable of the North <br />CentraI Suburbs, Inc. to North Central subject to the' actual <br />closing of the- stock salet and <br />t_. lIIIDEAlr~ the CCaDissiolt has aI.so recommended appro.,~ of <br />. request: br North:: CentraI. to germit th~ pI-edge as securf.tr <br />1:0' its lenders. the stock. and assets of North Central and its <br />subsidiaries,. which would include Group'" Cable of th. North <br />Central Suburbs,.. Inc.; <br /> <br />WHEREAS'". the' City does not object to such. security <br />interest in: the stock and assets.. <br /> <br />NOW 'rHEREFORE,.. BE I'r RESOI,VED by the' City Council of the <br /> <br />Clty of Cen1:ervi" e <br /> <br />. <br />. <br /> <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 WCable of the North Central Suburbs, <br /> <br />- 2 - <br /> <br />,- <br />