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Ord_1533
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Last modified
5/29/2018 12:58:51 PM
Creation date
5/25/2018 10:23:29 AM
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Roseville City Council
Document Type
Council Ordinances
Meeting Date
10/9/2017
Meeting Type
Regular
Ordinance #
1533
Ordinance Title
Cable Televsion Franchise Ordinance
Ordinance Date Passed
10/9/2017
Ordinance Date Published
10/17/2017
Publication Type
Ordinance
Publication Newspaper
Review
Publication Date (lst)
10/17/2017
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all rights of ownership including, but not limited to, the right to operate the System or <br /> transfer the System to another for operation by it. <br /> 5. Sale or Transfer of Franchise. <br /> a. No sale or transfer of the Franchise, or sale, transfer, or fundamental <br /> corporate change of or in Grantee, including, but not limited to, a fundamental corporate <br /> change in Grantee's parent corporation or any entity having a controlling interest in <br /> Grantee, the sale of a controlling interest in the Grantee's assets, a merger including the <br /> merger of a subsidiary and parent entity, consolidation, or the creation of a subsidiary or <br /> affiliate entity, shall take place until a written request has been filed with City requesting <br /> approval of the sale, transfer, or corporate change and such approval has been granted or <br /> deemed granted, provided, however, that said approval shall not be required where <br /> Grantee grants a security interest in its Franchise and/or assets to secure an indebtedness. <br /> The foregoing notwithstanding, Grantee must seek approval of any transaction <br /> constituting a transfer under state law. <br /> b. Any sale, transfer, exchange or assignment of stock in Grantee, or <br /> Grantee's parent corporation or any other entity having a controlling interest in Grantee, <br /> so as to create a new controlling interest therein, shall be subject to the requirements of <br /> this Section 10.5. The term "controlling interest" as used herein is not limited to majority <br /> stock ownership, but includes actual working control in whatever manner exercised. In <br /> any event, as used herein, a new"controlling interest" shall be deemed to be created upon <br /> the acquisition through any transaction or group of transactions of a legal or beneficial <br /> interest of fifteen percent(15%) or more by one Person. Acquisition by one Person of an <br /> interest of five percent (5%) or more in a single transaction shall require notice to City. <br /> This requirement shall not apply to transactions involving the acquisition of a non-Cable <br /> Service business, movie studio, or other such business venture by Grantee's parent <br /> company). <br /> C. The Grantee shall file, in addition to all documents, forms and information <br /> required to be filed by applicable law, the following subject to reasonable confidentiality <br /> agreements, if necessary: <br /> i. All contracts, agreements or other documents that constitute the proposed <br /> transaction and all exhibits, attachments, or other documents referred to <br /> therein which are necessary in order to understand the terms thereof. <br /> ii. A list detailing all public documents filed with any state or federal agency <br /> related to the transaction including, but not limited to, the MPUC, the <br /> FCC,the FTC,the FEC,the SEC or MnDOT. Upon request, Grantee shall <br /> provide City with a complete copy of any such document; and <br /> iii. Any other documents or information related to the transaction as may be <br /> specifically requested by the City which are necessary in order to <br /> understand the terms thereof. <br /> 29 <br /> i <br />
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