HomeMy WebLinkAboutCC-08-01-88-01 Accu CableRESOLUTION NO. 0~. /5' f f ¢ /
RESOLUTION APPROVING THE TRANSFER OF
THE CABLE TELEVISION FRANCHISE GRANTED TO
ACCUCABLE CO. PURSUANT TO RESOLUTION NO. 12-7-87-2
DATED DECEMBER 7, 1987
WHEREAS, the Common Council of the City of Carmel,
Indiana granted a franchise to construct, own, operate and
maintain a cable television system within the City of Carmel
pursuant to Resolution No. 12-7-87-2 dated December 7, 1987 and
that certain Agreement dated December 7, 1987 (collectively,
the "Franchise"), between the City of Carmel (the "City"), and
AccuCable Co., an Indiana general partnership ("AccuCable"); and
WHEREAS, AccuCable has requested pursuant to Section 9
of the Franchise that the Common Council of the City of Carmel
approve the transfer of the Franchise to Jones Intercable,
Inc., a Colorado corporation ("Jones") and/or to any limited
partnership or partnerships of which Jones or Jones Cable
Corporation is a general partner, or to any joint venture or
general partnership or partnerships of which Jones or any such
limited partnership is a constituent partner (any such entity
being hereinafter referred to as an "Affiliate of Jones"); and
WHEREAS, Jones or any Affiliate of Jones then holding
the Franchise may from time to time desire to grant a security
interest in its assets, including the Franchise, to an
institutional lender or lenders as security for its obligations
to such lender or lenders; and
WHEREAS,
the Franchise has
and conditions of
Jones or any Affiliate of Jones then holding
agreed to be bound by the terms, provisions
the Franchise.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE COMMON
COUNCIL OF THE CITY OF CARMEL, INDIANA, THAT:
1. The City does hereby consent to the assignment and
transfer of the Franchise from AccuCable to Jones and/or to any
Affiliate of Jones, and to any subsequent transfers between
Jones and any Affiliate of Jones; provided, however, that if
the Franchise is transferred to any Affiliate of Jones, Jones
shall act as the manager of the cable television system
operated pursuant to the Franchise (the "System"). If Jones
shall at any time be removed by the then holder of the
Franchise as the manager of the System, the entity then holding
the Franchise shall, within 90 days after such removal, replace
the manager of the System and obtain the City's consent to such
new manager, which consent shall not be unreasonably withheld.
2. The City does hereby consent to the grant by Jones
or any Affiliate of Jones who may from time to time hold the
Franchise of a security interest in all of its rights, powers
and privileges under the Franchise and all of its other assets
to such lending institution or institutions as may be
designated by Jones or any Affiliate of Jones, which lending
institution or institutions shall have all of the rights and
remedies of a secured party under the applicable Uniform
Commercial Code.
3. The foregoing consent to the transfer and
assignment of the Franchise from Accucable to Jones and/or to
any Affiliate of Jones shall be effective upon the closing of
the sale of the assets of AccuCable to Jones or any Affiliate
of Jones. Notice of such closing date shall be given to the
City. Any subsequent transfer of the Franchise between Jones
and any Affiliate of Jones shall be effective upon written
notice being given to the City by the entity then holding the
Franchise.
4. The City hereby affirms that the Franchise is
currently valid and in full force and effect, and to the
knowledge of the City, no default exists thereunder. Subject
to compliance with the terms of this Resolution, all action
necessary to approve the transfer of the Franchise to Jones or
any Affiliate of Jones has been duly and validly taken.
PASSED AND ADOPTED bv the Common Council of,the City
of Carmel, Indiana on the/,~ day of /~/~L~/~ , 1988.
COMMON COUNCIL OF THE CITY
OF CARMEL, INDIANA
~s idinCf-~ice r
APPROVED:
ATTE ST:
//'Clerk-Treasurer
(11638: Rev.)