HomeMy WebLinkAboutORDINANCE - 2500 - 7/9/1996 - CABLE TV MERGE/CONT'L/US WESTORDINANCE NO. 2500
AN ORDINANCE APPROVING THE MERGER BEIWEEN
CONTINENTAL CABLEVISION, INC. AND U. S. WEST, INC.
WHEREAS, Continental Cablevision of Northern Illinois, Inc. is
the duly authorized holder of a franchise (as amended to date, the
"Franchise") authorizing the operation and maintenance of a cable
television system and authorizing Franchisee to serve the Village of
Elk Grove Village ("Franchise Authority"); and
WHEREAS, Franchisee is a subsidiary of Continental Cablevision,
Inc. ("Continental"); and
WHEREAS, Continental and U. S. West, Inc. ("U. S. West") have
entered into an Agreement and Plan of Merger, dated as of February 27,
1996 (the "Agreement"), subject to, among other considerations, any
required approval of the Franchise Authority with respect thereto; and
WHEREAS, in connection with the merger (the "Merger") contemplated
by the Agreement, the parent company, Continental, will merge with
U. S. West, or with a wholly-cwned subsidiary of U. S. West; and
WHEREAS, Franchisee will remain in place and continue to hold,
manage, and control the Franchise; and
WHEREAS, U. S. West may thereafter assign or transfer the control
related to Continental to an entity controlling, controlled by, or
under common control with U. S. West only after approval of the
Franchise Authority; and
WHEREAS, to the extent the Franchise requires, Continental and
U. S. West now seek approval of the transfer of control from
Continental to U. S. West.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of
Trustees of the Village of Elk Grove Village, Counties of Cook and
DuPage, Illinois as follows:
Section 1: To the extent that the consent of the Franchise
Authority is required by the terms of the Franchise and applicable law,
the Franchise Authority hereby consents to the transfer of control of
the Franchise, which is currently in full force and effect with no
known outstanding defaults or breaches thereunder.
Section 2: U. S. West may thereafter assign or transfer the
Franchise or control related thereto to an entity controlling,
controlled by, of under cannon control with U. S. West upon notice and
approval of the Franchise Authority.
Section 3: This Ordinance shall have the force of continuing
agreement between Franchisee and the Franchise Authority, and the
Franchise Authority shall not amend or otherwise alter this Ordinance
without notice to the Franchisee and U. S. West.
Section 4: That the Clerk is hereby authorized to publish this
Ordinance in pamphlet form.
Section 5: That this Ordinance shall be in full force and
effect from and after its passage, approval and publication according
to law.
VOTE: AYES: 5 NAYS: 0 ABSENT: 0
PASSED this 9th day of July 1996.
APPROVED this 9th day of July , 1996.
Dennis J. Gallitano
Village President
ATTEST:
Patricia S. Smith
Village Clerk
PUBLISHED this 12th day of July , 1996 in Pamphlet Form.
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