My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
11A - ORD VIDEO SERVICE
Clerk
>
Agenda Packets / Staff Reports
>
City Council (2004 - Present)
>
2008
>
09/02/2008
>
11A - ORD VIDEO SERVICE
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/3/2012 4:28:03 PM
Creation date
8/25/2008 12:10:39 PM
Metadata
Fields
Template:
City Clerk
Doc Type
Agenda Packet
Item #
11A
Date
9/2/2008
Destruction Year
2013
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
10
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
transfer for the purposes of this subsection. <br />(2) The requirements of subsection (1) apply to any change in control of <br />grantee. The word "control" as used herein is not limited to the ownership <br />of major stockholder or partnership interests, but includes actual working <br />control in whatever manner exercised. If grantee is a partnership or a <br />corporation, prior written authorization of the city council is required where <br />ownership or control of twenty (20) percent or more of the partnership <br />interests or of the voting stock of grantee, or any company in the tier of <br />companies controlling the grantee, whether directly or indirectly, is <br />acquired by a person or a group of persons acting in concert, none of <br />whom, individually or collectively, owns or controls those partnership <br />interests or that voting stock of the grantee, or of grantee's upper tier of <br />controlling companies, as of the effective date of the franchise. <br />(3) Grantee must give prior written notice to the city of any proposed <br />foreclosure or judicial sale of all or a substantial part of the grantee's <br />franchise property. That notification will be considered by the city as notice <br />that a change in control of ownership of the franchise will take place, and <br />the provisions of this paragraph that require the prior written consent of <br />the city council to that change in control of ownership will apply. <br />(4) For the purpose of determining whether it will consent to an acquisition, <br />transfer, or change in control, the city may inquire as to the qualifications <br />of the prospective transferee or controlling party, and grantee must assist <br />the city in that inquiry. In seeking the city's consent to any change of <br />ownership or control, grantee or the proposed transferee, or both, must <br />complete Federal Communications Commission Form 394 or its <br />equivalent. This application must be submitted to the city not less than one <br />hundred and twenty (120) days prior to the proposed date of transfer. The <br />transferee must establish that it possesses the legal, financial, and <br />technical capability to remedy all then-existing defaults and deficiencies, <br />and, during the remaining term of the franchise, to operate and maintain <br />the cable system and to comply with all franchise requirements. If the <br />legal, financial, and technical qualifications of the proposed transferee are <br />determined to be satisfactory, then the city will consent to the transfer of <br />the franchise. <br />(5) Any financial institution holding a pledge of the grantee's assets to secure <br />the advance of money for the construction or operation of the franchise <br />property has the right to notify the city that it, or a designee satisfactory to <br />the city, will take control of and operate the cable television system upon <br />grantee's default in its financial obligations. Further, that financial <br />institution must also submit a plan for such operation within 90 days after <br />assuming control. The plan must ensure continued service and <br />compliance with all franchise requirements during the period that the <br />financial institution will exercise control over the system. The financial <br />institution may not exercise control over the system for a period exceeding <br />11 A-4 <br />
The URL can be used to link to this page
Your browser does not support the video tag.