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HomeMy WebLinkAbout2468 Resolution RESOLUTION NO. 2468 A RESOLUTION OF THE CITY OF PASCO, WASHINGTON, APPROVING THE TRANSFER OF CONTROL OF THE ULTIMATE PARENT COMPANY OF FALCON VIDEO COMMUNICATIONS, LP TO CHARTER COMMUNICATIONS HOLDING COMPANY, LLC ("CHARTER") WHEREAS, Falcon Video Communications, LP (Falcon) is duly authorized to operate and maintain a cable communications system in the City of Pasco, Washington (City) pursuant to a franchise granted by the City to TCI of Northern New Jersey, Inc. d/b/a TCI of Washington (TCI) and subsequently transferred to Falcon with the consent of the City; and WHEREAS, Charter Communications, Inc. ("CCI") and certain affiliates of the Franchisee (including the Franchisee's ultimate parent company, Falcon Communications, L.P., hereinafter "FCLP") have entered into a Purchase and Contribution Agreement (the "Agreement") dated May 26, 1999, pursuant to which CCI's affiliate, Charter Communications Holding Company, LLC ("Charter"), will acquire control of FCLP (the "Transaction"); and, WHEREAS, Falcon and Charter have requested the consent of the City to the above-referenced Transaction, to the extent that such consent is required under the franchise and applicable law; and WHEREAS, FCC Form 394 has been timely filed with the City; NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: Section 1. The City hereby consents to and approves the Transaction to the extent that such consent is required by the terms of the franchise and applicable law. Section 2. Charter may grant a security interest in the franchise to any lender(s) for the purpose of securing indebtedness, or may sell capital stock of Charter in an "initial public offering" without obtaining the prior consent of the City, provided that no such transaction will materially affect Charter's compliance with the Franchise. ,? Section 3. This Resolution shall be deemed effective upon the date of its passage. RESOLVED this 7th day of September, 1999. t CHARLES D. KILBtJRY, MAY ATTEST JAUTHENTICATED: CATHERINE D. SEAMAN, DEPUTY CITY CLERK APPROVED AS TO FORM: u-t- L LAND ERR, CITY A E