Laserfiche WebLink
<br />WHEREAS, the City does not object to such security interest in <br />the stock and assets. <br /> <br />NOW THEREFORE, BE IT RESOLVED, by the City council of the City <br />of Rosevi11e, 1m that: <br /> <br />1. The City hereby approves the sale and transfer by <br />Transferors of all of their shares of the capital stock <br />of North Central, together with all of the voting stock <br />of Holdco, subject to an actual closing of the stock sale <br />transaction on or before December 31, 1992, pursuant to <br />the terms and conditions as evidenced by the Notice of <br />Transfer to said Commission and City and all <br />written representations from Transferors, Transferee, <br />Meredith/New Heritage Partnership, its subsidiaries, <br />employees, agents, partners, parent corporations and <br />North Central, and further subject to the terms and <br />conditions of this Resolution. <br /> <br />2. The City approves the pledge by Transferee, Meredith/New <br />Heritage Partnership, and North Central as security to <br />their lenders the stock and assets of North Central and <br />its subsidiaries subject to the terms and conditions of <br />this Resolution. <br /> <br />3. This Resolution constitutes all action and approvals of <br />the City necessary under the City's Franchise for the <br />sale and transfer of control to Transferee. <br /> <br />4. The City's approval of the above named transfer of <br />ownership of North Central is further conditioned upon <br />the following: <br /> <br />a. North Central shall have corrected all technical <br />discrepancies in the cable system of City as <br />delineated in the report of Communications Support <br />Corporation (hereinafter "CSC") No. 92010.001, and <br />its addendum No. 92010.A01, and as represented as <br />corrected pursuant to the letter from Mr. Kevin <br />Griffin to Ms. Coralie Wilson dated June 17, 1992, <br />unless otherwise qualified, below. <br /> <br />b. North Central and the Commission shall have agreed <br />to waive any and all alleged or existing claims for <br />overpayment of franchise fees attributable to sales <br />tax and/or underpayment of franchise fees as delin- <br />eated in the Commission's audit of the gross reve- <br />nues of North Central. North Central shall have <br />agreed and City hereby agrees to negotiate mutually <br />acceptable language to amend the Franchise <br /> <br />3 <br />