HomeMy WebLinkAboutReso 2014-084 - Comcast Corporation RESOLUTION NO. 2014-084
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
AUTHORIZING CONSENT TO TRANSFER CONTROL OF THE CABLE
TELEVISION FRANCHISE AGREEMENT FROM CHARTER
COMMUNICATIONS, INC TO COMCAST CORPORATION
WHEREAS,Falcon Cable Systems Company II,L.P. (Franchisee)is the duly authorized holder
of a franchise,as amended to date(the Franchise),authorizing Franchisee to serve the City of Redding,
CA(the Franchise Authority) and to operate and maintain a cable television system therein; and
WHEREAS, Charter Communications, Inc. (Charter) is -the ultimate parent company of
Franchisee; and
WHEREAS, on April 25, 2014, Charter and Comcast Corporation (Comcast) entered into the
Comcast/Charter Transaction Agreement (the Agreement), pursuant to which the Franchisee will
become a wholly-owned subsidiary of Comcast (the Transaction); and
WHEREAS, Franchisee has filed an FCC Form 394 with the Franchise Authority with respect
thereto; and
WHEREAS, the Franchise Authority has considered and approves of the Transaction.
NOW, THEREFORE, IT IS HEREBY RESOLVED and ordered by the City Council of the
City of Redding the following:
1. The foregoing recitals are approved and incorporated herein by reference.
2. The Franchise Authority consents to the Transaction.
3. The Franchise Authority confirms that the Franchise is valid and outstanding, and in full force
and effect and there are no defaults under the Franchise. Subject to compliance with the terms of this
Resolution, all action necessary to approve the transfer.of control of the Franchisee to Comcast has
been duly and validly taken.
4. Comcast or the Franchisee may (a) assign or transfer its assets, including the Franchise,
provided that such assignment of transfer is to an entity directly or indirectly controlling,controlled by
or under common control with Comcast; (b)restructure debt or change the ownership interests among
existing equity participants in.Comcast; (c) pledge or grant a security interest to any lender(s) of
Comcast's assets,including,but not limited to,the Franchise,or of interest in Comcast,for purposes of
securing any indebtedness; and (d) sell equity interests in Comcast or any of Comcast's affiliates.
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5. Upon closing of the Transaction, the Franchisee shall remain bound by the lawful terns and
conditions of the Franchise. t
6. This Resolution shall be deemed effective upon adoption.
7. This Resolution shall have the force of a continuing agreement with the Franchisee, and the
Franchise Authority shall not amend or otherwise alter this Resolution without the consent of the
Franchisee and Comcast.
I HEREBY CERTIFY that the foregoing Resolution was introduced, read, and adopted at a
special meeting of the City Council of the City of Redding on the 5th day of August, 2014, by the
following vote:
AYES: COUNCIL MEMBERS: Cadd,Jones,McArthur, & Sullivan
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: Bosetti
ABSTAIN: COUNCIL MEMBERS: None
CIE SULLIVAN, Vice Mayor
ATTEST: 'r' FORM APPROVED:
r r
ERESA` UDOLPH,Assistant City Clerk RICHARD A. DUVERNA ity Attorney