HomeMy WebLinkAbout2000-01 - Cable Franchise
Resolution fro. ~~ - 0~
.4 Resolution Providing For Tht Change in Control
Of a Cable Television Franchisee
W'l1FREAS, the CiC,: of Rivcrs~dc ("Franettisiag Authority") ha> granted a franchise
("Frsrrchisc") ro Kansas Cin~ Cable Pat3net5, a Colorado general pnrtnenhtp doing business as American
Cablevision ("Franchisee') q provide :.able television service;
WHEREAS, the Franchising Authority has been informed that Time Warner Inc. ("TWI") and
.4mtrice Oaiiae, Inc. ("AOL") have entered into an Agreemetu :.nd Plan of Merger (the "Merger
Agneemeat") dated as of January ] 0, 2000;
WHERE?.S, the Franchising Authority has been inforctod that the Merger Agreement will resuh
in a stock-fur-stock merger (the ^Transaction") is which TWI will merge with a subsidiary ("NewTWI")
or a newly formed holding company, AOL Time ~irarner Inc. ("AOLTWI") and AOL will merge with a
subsidiary ("NewAOL") of AOLTWI ;and
WI-i£RE.4S, the Ftaach:sing Authority has beet infrxarcd that as a result of the Transaction both
NcwTWI and NewAOL will become wholl}• owned subsidiaries of AOLiWI; and
SVHEREAS, the Franchisee has requested the Franchising Authority to consider a resolution
regarding the.change of control of the Franchisee r:sultuig from the Transaction.
NOR' THEREFORE, HE IT RESOLVED BY FRANCHISMG AUTHORITY:
3. SubjeC to the tcrtns end conditions of the Franchise and Franchise Agreement and
compliance with this Resoivtion, the Franchising Authority arrthorizra and consents tD the change in
control cf the Franchisee resulting from the Transaction as explained above; provided, howrverthis
aathoriration and consent shall in no way be deemed or construed as a consent or auttroritetion of any
additions}, different or future changes in control or other transfer.
'_. The Franchisee shall continue to be responsible far all obligations as set forth in the
Franchise and Franchise Agreement.
3. Thi3 anthorizatian and concert shah only be effective upon the Franchisee. NewTWI and
AOLTWZ executing n document sccepting the terms and conditions of the Frannchise and Franchise
4greement and is furdrer conditioned upon compliance with the following requirement: within 60 days
after the completion of the Transaction, the Franchisee shall submit to the Franchise Administrator a copy
of the deed, agreement, mort~tage. lea_ce or other written instrument evidencing the sate, transfer of
ownership, control or lease, certified and sworn to as eorrec: y e Franchisee, Nevdl'WI and AoLTWI.
PASSr-D, ADOPTED .:.~lD APPROVED this day of .^000.
:4TI0 A'~iD CATIOK:
L rse Rusick. City Clerk