HomeMy WebLinkAboutCC-09-18-00-02 Cable FranchiseRESOLUTION NO. CC-09-18-00-02
A RESOLUTION PROVIDING FOR THE CHANGE IN CONTROL
OF A CALBE TELEVISION FRANCHISEE
WHEREAS, the City of Cannel ("Franchising Authority") has granted a franchise
to a subsidiary (the "Franchisee') of Time Warner Inc. ("TWI") to provide cable
television services:
WHEREAS, TWI and America Online, Inc. CAOL") have entered into an
Agreement and Plan of Merger (the "Merger Agreement") dated as of January 10, 2000;
WHEREAS, the Merger Agreement will result in a stock-for-stock merger (the
"Transaction") in which TWI and AOL will merge with subsidiaries of a newly formed
holding company; and
WHEREAS, as a result of the Transaction both TWI and AOL will become
wholly owned subsidiaries of the new company, AOL Time Wamer Inc.; and
WHEREAS, the Franchising Authority has concluded the Transaction will result
in a change of control of the Franchisee.
NOW, THEREFORE, BE IT RESOLVED BY FRANCHISING AUTHORITY:
To the extent required under the terms of the Franchise, the Franchising Authority
authorizes and consents to any change in control of the Franchisee resulting from
the Transaction.
The Franchisee shall remain responsible for all obligations under the Franchise.
The foregoing consent shall be effective upon the closing of the Transaction,
provided that if the Franehising Authority has previously approved the assignment
of the Franchise to form the current Franchisee to Consent Cablevision of
Indianapolis, LP, and such transaction is consummated, this consent and
resolution shall automatically become null and void.
D:XFilesXResolutions\09-18-00-02.doc
PASSED by the Common Council of the City of Carmel, Indiana this ]~thday of
~(~'~qckOY~ ,2000, byavoteof ~ ayesand O nays.
Kevin Kirby
COMMOlk/COUNCIL FOR THE CITY OF CARMEL
N.L~.~d~l~,p~
· Veil
nyder
ilso~
ATTEST:
Indiana the/~~ day of
j~es~Brain~d, Mayofi~~
ATTEST:
Diana L. Cordray,~C, Clerk-T~e~~'bL