Laserfiche WebLink
126 <br /> <br />A RESOLUTION APPROVING A TRANSACTION INVOLVING A TRANSFER <br />OF THE PORTSMOUTH CABLE TELEVISION FRANCHISE FROM COX CABLE <br />PORTSMOUTH, INC. TO COX CABLE HAMPTON ROADS, INC.. <br /> <br /> WHEREAS, COX Cable Portsmouth, Inc. has requested, <br />in accordance with §6-1/2-13 of the Code of the City of <br />Portsmouth, 1973, as amended, that the Council of the City <br />of Portsmouth approve a proposed transaction involving a <br />transfer of assets, including the Portsmouth Cable <br />Television Franchise, from Cox Cable Portsmouth, Inc. to <br />Cox Cable Hampton Roads, Inc., and then to merge the two <br />companies; and <br /> <br /> WHEREAS, the proposed transaction is an internal <br />reorganization and part of Cox Communications, Inc.'s <br />efforts to streamline their corporate structure and same <br />will non affect the control, management or ultimase <br />ownership of the cable system and the operations of the <br />cable television system within the City of Portsmouth will <br />continue in accordance with the Franchise Agreement and the <br />provisions of Chapter 6-1/2 of the Code of the City of <br />Portsmouth, Virginia, 1973, as amended, to the extent <br />allowable under federal and state law; and <br /> <br /> WHEREAS, the Portsmouth Cable Television Commission <br />has considered the request and recommended that Council <br />approve such transaction as being in the best interest of <br />the citizens of Portsmouth; and <br /> <br /> WHEREAS, the Council concurs in the recommendation of <br />the Portsmouth Cable Television Commission that the <br />approval of the proposed transaction is in the Pest <br />interest of the citizens of the City. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the Council of the <br />City of Portsmouth hereby consents to the transfer of the <br />assets, including the Portsmouth Cable Television <br />Franchise, from Cox Cable Portsmouth, Inc. to Cox Cable <br />Hampton Roads, Inc. In granting this consent, it is <br />expressly understood that there will De no change in the <br />franchise or the management and continued operation of the <br />cable television system within the City of Portsmouth. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia at a meeting held December 9, 1986. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />