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HomeMy WebLinkAbout3172 Resolution RESOLUTION NO. 31-7 A RESOLUTION OF THE CITY OF PASCO CONSENTING TO CHARTER COMMUNICATIONS RESTRUCTURING WHEREAS, Falcon Video Communications L.P. (Franchisee), an indirect,wholly owned subsidiary of Charter Communications,Inc. ("Charter"), owns a cable television system(the "System") in the City of Pasco, Washington,the Franchise Authority;and WHEREAS, on March 27,2009, Charter and certain of its subsidiaries Bled voluntary petitions in the United States Bankruptcy Court for the Southern Jurisdiction of New York("Bankruptcy Court") seeking relief under the provisions of Chapter 11 of Title 11 of the United States Code in order to effectuate a financial restructuring(Case No. 09-11435); and WHEREAS,pursuant to the terms of agreements entered into between Charter and its key holders, Charter's current class A Common Stock and Class B Common Stock will be canceled and replaced with new voting stock owned by Paul G Allen and such bondholders, as described in flings with the Bankruptcy Court(the"'Transaction"), copies of which have been provided to the City of Pasco;and WHEREAS,the Pasco Municipal Code(PMC) Section 15.70.020 AO(2)provides the definition of"transfer"as a change,acquisition, or direct or indirect transfer of control of the franchisee or right of way permit holder; and WHEREAS,the Pasco Municipal Code(PMC) Section 15.70.330 titled Transactions Affecting Control Of Grant, states that transactions that result in a change of 50% or more of ownership requires City Approval;and WHEREAS,the City of Pasco has concluded that based on PMC Sections 15.70.020 and 15.70.330,that approval is necessary for the above described Transaction and has been provided a FCC Form 394 and related information for such Transaction: and WHEREAS,the City of Pasco has considered and approves of the Transaction described above. NOW THEREFORE BE IT FURTHER RESOLVED AS FOLLOWS: 1. The foregoing recitals are approved and incorporated herein by reference. 2. The City of Pasco consents to the Transaction described herein. 3. This Resolution shall be deemed effective upon adoption. 4. This Resolution shall have the effect of permitting the transfer of the existing franchise which shall remain in full force and effect without amendment or alteration except with the reasonable consent of the Franchisee. PASSED,ADOPTED AND APPROVED by the City Council of the City of Pasco, Washington at a regular meeting thereof assembled this 6h day of July 2009. '��4(A-Qd� Joy is Mayor A,TTEST: APP O S TO FORM: De ra L Clark, City er Leland Kerr, City Attorney