HomeMy WebLinkAbout05-1203 06-28-2005RESOLUTION NO. 05 -1203
A RESOLUTION PROVIDING APPROVAL FOR A
TRANSACTION INVOLVING COMCAST CORPORATION
AND TIME WARNER CABLE, INC.
WHEREAS, the City of Euless, Texas, ( "Franchising Authority") has granted a
cable television franchise to an entity (the "Franchisee ") presently controlled by
Comcast Corporation ("Comcast"); and
WHEREAS, pursuant to an Exchange Agreement between Time Warner Cable,
Inc. ( "Time Warner Cable "), Comcast and certain related entities, Comcast will cause
the Franchisee to assign the cable system and franchise to C- Native Exchange II, LP,
( "New Franchisee "), which will become an indirect subsidiary of Time Warner Cable (the
"Transaction "); and
WHEREAS, upon closing of the Transaction, the New Franchisee expressly
agrees to assume the obligations under the Franchise; and
WHEREAS, Comcast and Time Warner Cable have filed an FCC Form 394
providing details regarding the Transaction and establishing the qualifications of the
New Franchisee; and
WHEREAS, the Franchising Authority wishes to grant its approval for the
Transaction as described above.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EULESS, TEXAS, THAT:
Section 1. The Franchising Authority hereby approves the Transaction.
Section 2. Upon the closing of the Transaction, the New Franchisee shall
assume the obligations under the Franchise.
Section 3. This resolution shall become effective immediately upon passage
by the Franchising Authority.
PASSED AND APPROVED by the City Council of the City of Euless, Tarrant
County, Texas, on this the 28th day of June, 2005, by a vote of 6 ayes, 1 nays,
and 0 abstentions.
APPROVED:
Mary Lib Shleh, Mayor
ATTEST:
Susan Crim, CMC, City Secretary