HomeMy WebLinkAbout1976-16 Approval of CTI's Sale of its CATV System and Assignment of Franchise and Contract Rights to Vail Cable Communications Inci
RESOLUTION NO. 16-76
A RESOLUTION CONCERNING TOWN OF VAIL
APPROVAL OF CTI`s SALE OF ITS CATV
SYSTEM AND ASSIGNMENT OF FRANCHISE AND
CONTRACT RIGHTS TO VAIL CABLE
COMMUNICATIONS, INC.
WHEREAS, the Town of Vail by Ordinance No. l4,
Series of 1974, effective September 3, 1974, granted a CATV
Franchise to Community Television Investment, Inc. (CTI} and
simultaneously entered into an Agreement dated September 3,
1974 with CTI relating to certain mutual obligations of the
parties under said franchise; and
WHEREAS, GTT has agreed .in principal to sell
its CATV system and assign its rights under said franchise
and contract to Vail Cable Communications, Inc. of which Mr.
Frank Thompson is the principal owner and operator;
THEREFORE, BE IT RESOLVED, that the Town Council
hereby approves the transfer by Community Television Investment,
Inc. of its cable system, all of its rights under the CATV
franchise granted under Ordinance No. 14, Series of 1974, and
aI1 of its rights under the Agreement dated September 3, 1974,
to Vail Cable Communications, Inc., PROVIDED HOWEVER, that no
sale or transfer of the CATV franchise shall be effective until
Vail Cable Communications, Tnc. has acquired the cable system
and has filed in the office of the Town Clerk of the Town of
Vail a satisfactory instrument duly executed reciting the fact
of such sale and accepting the terms of said franchise and said
agreement and agreeing to perform all conditions thereof; and
provided further that such transfer must take place nat later
than November 30, 1976.
day of Septembe
ATTEST: Mayor
Town GI e
This resolution shall take effect upon its adoption.
INTRODUCED, READ, APPROVED, AND ADOP ED, this 7th
r, 1976.