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HomeMy WebLinkAboutResolution - Granting Approval of the change in Ownership to , '" . . .. . A RESOLUTION OF THE CITY OF OCOEE, FLORIDA, GRANTING APPROVAL OF THE CHANGE IN OWNERSHIP OR CONTROL OF A FRANCHISE, TM COMMUNICATIONS COMPANY WHEREAS, on the l8t.h day of August, 1970, there was awarded to the TM Communications Company of Florida (formerly The TM Communications Company) (Company) a non-exclusive franchise (Ordinance No. 514) to furnish a community antenna television distribution service to the residents of the City of Ocoee, Florida, and WHEREAS, Ordinance No. 514 was amended by Ordinance No. 545 on December 21, 1971, and WHEREAS, The Times Mirror Company, a California Corporation, (Times Mirror) which is the sole shareholder of the Company, has contracted to transfer all of its stock in the Company to the Teleprompter Corporation, a New York corporation (Teleprompter) as per an agreement dated August 16, 1972, and WHEREAS, Times Mirror and Teleprompter wish to effectuate such transfer on or before August 31, 1972, and, WHEREAS, Section 18 of Ordinance No. 514 as a condition of the franchise requires an approval by the City Commission when there is a change of control of grantee and WHEREAS, the City believes it is in the best interests of the City to grant such approval. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF OCOEE, FLORIDA: 1. Pursuant to Section 18 of Ordinance No. 514 of the City of Ocoee, Florida, the City Commission hereby approves and consents to the transfer of One Hundred (100%) per cent of the stock ownership of ..' . . ., THE TM Communications Company of Florida (formerly The TM Communications Company) from the Times Mirror Company to The Teleprompter Corporation as per their Agreement dated August 16, 1972. 2. The proper officers of the Commission be and hereby are directed and empowered to execute' any and all documents and agreements necessary to effectuate the intent of this Resolution. The franchise granted by Ordinance No. 514, as amended by Ordinance No. 545, shall remain in all other respects unchanged and is hereby ratified and approved. 4. This resolution shall be considered part of Ordinance No. 514, as 3. originally executed as if set forth therein.