Minutes 02/09/1999 - Laserfiche WebLink

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February 9, 1999 Recommendation: Adoption of a resolution authorizing the transfer of the franchise held by Cox Communications Hampton Roads, Inc. to Cox Communications Hampton Roads L.L.C. Purpose and Need: This resolution has been requested by Cox as part of a corporate reorganization. This is the second stage of the reorganization. The Portsmouth City Council has previously approved a merger which is part of the reorganization. · This action will have no impact on the day to day management or operations of the cable franchise, nor in the ownership of the cable system. Financial Impact: · There will be no financial impact on the City of Portsmouth. Motion by Mr. Whitehurst, and seconded by Mr. Griffin, to adopt the following resolution, and was adopted by the following vote: "A RESOLUTION APPROVING THE ASSIGNMENT OF THE CABLE TELEVISION FRANCHISE FROM COXCOM, INC., TO COX COMMUNICATIONS HAMPTON ROADS, L.L.C. WHEREAS, Cox Communications Hampton Roads, Inc. ("Franchisee") owns, operates and maintains a cable television system ("System") in the City of Portsmouth, Virginia and pursuant to a franchise dated August 13, 1989 (the "Franchise") granted by the City of Portsmouth, Virginia, (the "Franchise Authority"), the Franchisee is the duly authorized holder of the Franchise; and WHEREAS, Franchisee and CoxCom, Inc. ("CoxCom") are wholly owned subsidiaries of Cox Communications, Inc. ("CCI"); and WHEREAS, CoxCom is the sole member of Cox Communications Hampton Roads, L.L.C. ("Hampton Roads, LLC"). WHEREAS, CCI is in the process of consolidating its several subsidiaries to improve operational efficiency and to simplify CCI's organizational structure; and WHEREAS, the consolidation entails the merger of the Franchisee with and into CoxCom, with CoxCom as the surviving corporation (the "Merger"); and WHEREAS, the City of Portsmouth, by Resolution dated December 17, 1996, approved the Merger; and WHEREAS, this consolidation also entails the transfer of the Franchise and all related assets exclusively used in the operation of the System from CoxCom to Hampton Roads, LLC (the "Transfer"); and WHEREAS, Franchisee has requested consent of the City for the Transfer and the assignment of the Franchise from CoxCom to Hampton Roads, LLC, to occur immediately following the Merger (the "Assignment") in accordance with the requirements of the Franchise; and WHEREAS, the Merger, the Transfer, and the Assignment are deemed to be in the best interests of the residents of the City of Portsmouth, Virginia. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia hereby reaffirms its prior consent for the Merger, and further consents to the Transfer and the Assignment all in accordance with the terms of the Franchise.