HomeMy WebLinkAboutCC RES 91-074RESOLUTION N0. 91-74
A RESOlUTION BY THE CITY COUNCIL OF THE CITY
OF PAIM DESERT, CALIFORNIA CONSENTING TO
TRANSFER AND ASSIGNMENT OF FRANCHISE AND
HYPOTHECATION OF ASSETS
WHEREAS Coachella Television, a division of Palmer
Communications Incorporated, has proposed to transfer and assign
its cable televisio� f�anchise to Palmer Cable Associates; and
WHEREAS, Palmer Cable Associates Nill assume certain
i�debtedness and this will requi�e the creatlon of a security
interest in the assets of Pelmer Cable Associates; and
WHEREAS, the proposed transfer and asstgnment will not
involve a change in control or new ownershlp lnterests in the
cable system because Palmer Communications Incorporated will be
the general partner af and will own 99X of Palmer Cable
Associates; and
WHEREAS, the consent of the City of Palm Desert is required
for the transfer and ass i gnment and for the creat i on of the
security interest;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the
C i ty of Pa 1 m Desert that the appl i cat ion for transfer and
assignment of the cable television franchise from Coachella
Valley Television, a division of Palmer Communications
Incorporated, to Palmer Cable Assocfates be approved; end
BE IT FURTHER RESOLVED, that Palmer Cable Associates is
authorized to grant a ftrst lien and security interest in the
assets of its cable television system, including its rights,
privileges and benefits in and under its franchise, to Providence
Journal Telecommunications, Inc. or an affiiiate thereof; and
BE IT FURTHER RESOLVED, that the consents herein granted
shall be effective upon the closing of the proposed transactions
and Palmer Cable Assoctates shall notify the City promptly upon
such closings.
RESOLUTiON N0. 91-74
APPROVED AND ADOPTED thts 27th day of June, 1991.
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AYES: KELLY, WILSON, SNYDER
NOES:
ABSENT:
ABSTA[N:
�TTEST:
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BENSON, CRITES
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Clerk
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