Laserfiche WebLink
1 1 <br />WHEREAS', the interim transaciti,.on,"has taken place* anQ <br />WHEREAS 'the Tiransf eriors have requested the consent f rom. the <br />0 <br />C ity to a change in, ownership and control of North Central to <br />Transferee and <br />WHEREAS,i City has waived any right of first refusal t,,l <br />purchase the stock acquired by Transferee as such right of first <br />refusal applies to the plending sale and transfer,* and <br />WHEREASr the North Suburban Cable Commun icat ions Commission <br />(hereinafter 11Commiss ion"), has been delegated the authority and <br />'b"l'ty to coordinate, admster and enforce the Cable <br />res,pon,si 1 1 <br />Communications Franchise ordinance on behalf of the City pursuant <br />to the terms of a Joint and Cooperative Agreement for the Admignis- <br />9 a <br />tration, of a Cable Telev,ision Fran,cihi,see and <br />I <br />WHEIREASI, the commission has held public hearings on behalf of <br />City and has, reviewed the legal,, teichnicial, character and financial-- <br />qualifications, of Tran,sferee and 'its general partner Meredith/New <br />Heritage Partnership and finds no reasonable basis to deny. the <br />request for transfer as a, result of said review, except for those <br />condons listed beldw; and <br />1 0 <br />WHEREAS, the Commission has riecozmenided to City approval of <br />the transfer of control of North Central to Transferee subject to <br />t.hei actual closing of the stock sale and subject to the conditions <br />listed bielow; and <br />WHEREA:So. the Commission has also recommended approval of a <br />request by Transferee to, permit the pledge as security to its <br />lenders of the stock and assets of North Central and its <br />1i <br />subsidiaries, which, would include Group W Cable of The North <br />0 <br />Suburbs, and <br />P� <br />