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HomeMy WebLinkAbout1994-12 Approving the Corporate Reorganization of Tele=-Communications IncRESOLUTION NO. 12 SERIES OF 1994 A RESOLUTION OF THE TOWN OF VAIL, COLORADO APPROVING THE CORPORATE REORGANIZATION OF TELE-COMMUNICATIONS, fNC., THE PARENT COMPANY OF THE FRANCHISE HOLDER, AND LIi3ERTY MEDIA CORPORATION. WHEREAS, Cablevision VI, Inc. ("Grantee: is the duly authorized holder of a franchise (as amended to date, the "Franchise") authorizing the operation and maintenance of a cable television system and authorizing Grantee to serve the Town of Vail, Colorado {the "Grantor" with cable television services; and WHEREAS, the ultimate parent company of Grantee is Tele-Communications, inc. {"TCI"); and WHEREAS, Grantee has advised the Grantor that TCI and L+berty Media Corporation are entering into a corporate reorganization and after such reorganization will be subsidiaries of a new parent company, TCIILiberty Holding Company; and WHEREAS, • although Grantee believes ~ the above-described transaction does not constitute a change in, transfer of, or acquisition of control of Grantee and therefore may no# be a transaction requiring the consent of the Grantor, Grantee nevertheless has informed the Grantor of such pending transaction and has requested that the Grantor consent thereto in the form hereinafter set forth. NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail, Colorado that: 1. To the extent tha# the consent of Grantor is required by the terms of the Franchise and applicable law, the Grantor hereby consents to the business reorganization described in the recitals hereto. 2. The consent herein granted does ro: constitute and shall not iJG construed to constitute a waiver of any obligations of Grantee under the Franchise. 3. The Grantor hereby affirms that the Franchise is validty held in the name of Grantee and is in full force and effect. 4. This resolution shall take effect immediately upon its passage. Reeolutian No. 12. Series of 1994 5. Upon notice to Grantor, Grantee may transfer the cable television system, including the Franchise, to any entity controlling, controlled by, or under common control with Grantee. INTRODUCED, READ, APPROVED AND ADOPTED this 3rd day of May, 1994. Marga~A. Osterfoss, Mayor ATTEST: Holly ~. McCutcheon, Town Clerk C:IRESOLU94.12 Resolution Na. 12. Series of t994