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HomeMy WebLinkAboutResolution No. 05-6877 - Approve Cable TV Franchise Assignment to C-Native Exchange 1, LLCRESOLUTION NO. 05-6877 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY PROVIDING APPROVAL FOR A TRANSACTION INVOLVING COMCAST OF LOS ANGELES, INC. AND TIME WARNER CABLE, INC. WHEREAS, the City of Downey, California (“Franchising Authority”) has granted a cable television Franchise to an entity (the “Franchisee”) presently controlled by Comcast of Los Angeles, Inc. (“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 1, LLC (“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, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES HEREBY RESOLVE AS FOLLOWS: 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. APPROVED AND ADOPTED this 27*h day of September, 2005. ATTEST: ANNE M. BAYER, Ma KATHLEEN L. MIDSTOKKE, City Clerk ( RESOLUTION NO. 05-6877 PAGE TWO r ' 1 \ I HEREBY CERTIFY that the foregoing Resolution was adopted by the City Council of the City of Downey at a regular meeting held on the 27th day of September, 2005, by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN : 5 Council Members: 0 Council Member: 0 Council Member: 0 Council Member: Cartozian, Gafin, Perkins, Trejo, Mayor Bayer None None None 7@ZM#9&£MaZ© KATHLEEN L. MIDSTOKKE, City Clerk