Title
TO APPROVE THE TRANSFER OF THE CABLE TELEVISION FRANCHISE HELD BY COAXIAL COMMUNICATIONS OF CENTRAL OHIO, INC., TO INSIGHT COMMUNICATIONS OF CENTRAL OHIO, LLC
Body
WHEREAS, Coaxial Communications of Central Ohio, Inc. ("Franchisee") owns, operates, and maintains a cable television system (the "System") in the City of Gahanna, Ohio (the "Franchise Authority"), and Franchisee is the duly authorized holder of the Franchise (the "Franchise"); and
WHEREAS, Insight Communications Company, L.P. ("Insight") and Franchisee are parties to an agreement pursuant to which the System and the Franchise will be transferred (the "Transfer") to Insight Communications of Central Ohio, LLC ("Transferee" or "Insight LCC"); and
WHEREAS, Insight LLC is a Delaware limited liability company that will be owned 25% by Franchisee and 75% by Insight; and
WHEREAS, Insight will manage Insight LLC; and
WHEREAS, Franchisee and Insight LLC have requested consent by the Franchise Authority to the Transfer in accordance with the requirements of the Franchise; and
WHEREAS, Insight has demonstrated its financial, managerial, and technological ability to operate the System; and
WHEREAS, the Transfer is deemed to be in the best interest of the residents of the City of Gahanna, Ohio;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. The Franchise Authority hereby approves and consents to the Transfer of the cable television franchise to Insight Communications of Ohio, LLC, currently held by Coaxial Communications of Central Ohio, Inc., in accordance with the terms of the Franchise.
Section 2. The Franchise Authority confirms that (a) the Franchise represents the entire understanding of the parties and the Franchisee has no obligations to the Franchise Authority other than those specifically stated in the Franchise, and (b) Franchisee is materially in compliance with the provisions of the Franchise and there exists no f...
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