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December 9, 1986
<br />
<br /> WHEREAS, by declaration of
<br />Associated Churchland Investors,
<br />established certain restrictive
<br />development of a 92 acre parcel
<br />Pines Road; and
<br />
<br />restrictions dated October 31, 1977
<br />owners of the subject parcel of
<br />convenants and conditions for the
<br />of land on the east side of Twin
<br />
<br /> WHEREAS, said declaration of restrictions required the approva
<br />of the City Council prior to release thereof; and
<br />
<br />Ld,
<br />
<br /> WHEREAS, on November 25, 1986, City Council conducted a public
<br />hearing, duly advertised as required by the declaration of restrict OhS,
<br />and received comments pertaining to said restrictions; and
<br />
<br /> WHEREAS, it is the opinion of this Council that said
<br />are no longer applicable to the development of the subject
<br />
<br />restricti ns
<br />property
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
<br />Portsmouth, Virginia, that it hereby expresses its concurrence in
<br />the rescission and termination of restrictions contained in a
<br />declaration of restriction dated October 31, 1977.
<br />
<br /> BE IT FURTHER RESOLVED that the City Manager be, and he hereb
<br />is, authorized to sign such Deed of Release or other documents as
<br />may be necessary to release said restrictions of record in the
<br />Office of the Circuit Court of the City of Portsmouth, Virginia."
<br />
<br />Ayes: Barnes, Corprew, Gray, Lucas, Simpson, Webb, Holl
<br />Nays: None
<br />
<br /> 86-457 Letter from the City Manager recommending adoption
<br />a resolutmon approvmng a transaction involving a transfer of the
<br />Portsmouth Cable Television [ranchise £rom Cox Cable Portsmouth,
<br />Inc., to Cox Cable Hampton Roads, Inc.
<br />
<br />of
<br />
<br /> "At your November 25 meeting, you held a joint public hearing
<br />with the members of the Cable Television Commission to consider a
<br />reques~ f~m a name change by Co× Cable Tidewater, Inc. Their new
<br />name would be Cox Cable Hampton Roads, Inc. No one spoke in oppos
<br />tion to this proposal, and the Cable Television Commission recomme'
<br />that the proposal be approved.
<br />
<br />As explained by Franklin Bowers, Vice President and Genera]
<br />Manager of Cox Cable Tidewater, the change may result in favorable
<br />Federal tax treatment for Cox. However, there will be no negative
<br />affect on the operauion of the franchise. The ownership and manage
<br />ment of the company will remain the same.
<br />
<br /> Therefore, I concur with the recommendation of the Cable
<br />Television Commission that the request be approved.
<br />
<br />~$
<br />
<br /> On motion of Mr. Barnes and seccnded by Mrs. Webb, the followi g
<br />resolution was adopted, and by the following Vote:
<br />
<br />"A RESOLUTION APPROVING A TRANSACTION INVOLVING A TRANSFER
<br />OF THE PORTSMOUTH C~BLE TELEVISION FRANCHISE FRO~ COX
<br />CABLE PORTSMOUTH, INC. TO COX CABLE HA~PTON ROADS, ~NC.
<br />
<br /> WHEREAS, Cox Cable of Portsmouth, Inc. has requested, in
<br />accordance with ~6-1/£-13 of the Code of the City of Portsmouth,
<br />1973, as amended, that the Council of the City of Portsmouth appro~
<br />a proposed ~ransaction involving a trsnsfer of assets, including
<br />the Portsmouth Cable Television Franchise, from Cox Cable Portsmou~
<br />Inc., to Cox Cable Hampton Roads, Inc., and then to merge the two
<br />companies; and
<br />
<br /> WHEREAS, the proposed transaction is an internal reorganizati¢
<br />and part of Cox Communications, Inc.'s efforts uo streamline their
<br />corporate structure and same will not affect the control, manage-
<br />ment or ultimate ownershio of the cable system and the operations
<br />
<br />
<br />
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