HomeMy WebLinkAbout2001-310-06.18.2001 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2001-310
A RESOLUTION OF THE CITY OF WATERLOO
APPROVING THE ASSIGNMENT OF THE CABLE
TELEVISION FRANCHISE .
WHEREAS, Westmarc Cable Holding, Inc. , doing business as
AT&T Broadband ("AT&T") owns, operates, and maintains a cable
television system (the "System") in the City of Waterloo, Iowa,
pursuant to a cable franchise ("Franchise") granted by the
governing body of the City of Waterloo (the "Franchise
Authority") , and is the duly authorized holder of the Franchise;
and
WHEREAS, AT&T and Mediacom Communications Corporation are
parties to an Asset Purchase Agreement ("Agreement") pursuant to
which the System and the Franchise will be assigned to Mediacom
Communications Corporation, or any entity controlling, controlled
by, or under common control with Mediacom Communications
Corporation (collectively, "Mediacom") , (the "Assignment") ; and
WHEREAS, AT&T and Mediacom have requested the consent of the
Franchise Authority to the Assignment in accordance with the
requirements of the Franchise and have provided information to
facilitate a decision by the Franchise Authority ("Assignment
Application") .
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
Section 1 . The Franchise Authority hereby consents to the
Assignment to Mediacom in accordance with the terms of the
Franchise, subject to fulfillment of the conditions stated in
Section 2 below.
Section 2 . Within thirty (30) days of the closing
contemplated by the Agreement, Mediacom, through its duly
authorized representatives, shall :
(A) deliver to the Franchise Authority a
notarized, written statement that it
unconditionally accepts the terms of the
Franchise as set forth in Chapter 10 of the
Code of Ordinances (the "Ordinance") and in
that certain Cable Television Franchise
Agreement dated February 19, 1996, to which
the Franchise Authority is a party (the
"Franchise Agreement") .
(B) delivery to the Franchise Authority, pursuant
to Section 10 . 03 of the Ordinance, a
performance bond in the amount of $10, 000 . 00
or an acceptable guarantee in lieu of a bond.
Resolution No. 2001-310
Page 2 .
(C) establish a security fund in the amount of
$25, 000 . 00, pursuant to Section 10 . 04 of the
Ordinance, by delivering to the Franchise
Authority an irrevocable letter of credit, or
other arrangement or instrument acceptable to
the Franchise Authority, for said sum which
the Franchise Authority shall be entitled to
draw against, in whole or in part, as provided
for in the Ordinance or the Franchise
Agreement.
(D) deliver to the City, pursuant to Section 10 . 08
of the Ordinance, one or more certificates
evidencing policies of insurance as required
by said Section.
Section 3 . The Franchise Authority confirms that (a) AT&T
is the current holder of the Franchise; (b) the Franchise is
currently in full force and effect and will expire on June 30,
2018; and (c) as of the date of passage of this Resolution, AT&T
is materially in compliance with the provisions of the Franchise .
Section 4 . The Franchise Authority hereby waives, with
respect to the Assignment only, any right of first refusal or any
other purchase right it may have pursuant to the Franchise.
PASSED AND ADOPTED this 18th day of June, 2001 .
•
John R. 'ooff, Mayor,
ATTEST:
Nancy Ec rt, City Clerk