Chapter 5.42
MILLENNIUM DIGITAL MEDIA SYSTEMS CABLE TELEVISION FRANCHISE

Sections:

5.42.010  Franchise sale approved.

5.42.020  Franchise sale approved.

5.42.010 Franchise sale approved.

(a)  Franchise authority consents to and approves the sale, assignment and transfer by Summit of all of the assets of the system, including all rights and obligations under the franchise relating to the period from and after the date of the consummation of the sale, to Summit Cablevision L.P. (“L.P.”) and Millennium Digital Media Systems, L.L.C. (“Millennium”), their respective successors, designees and assigns, and subsequent to such conveyance, releases Summit from any obligations incurred under the franchise for the period from and after the date of the consummation of the sale.

(b)  Millennium and Summit shall notify the franchise authority of the effective date of consummation of the sale within thirty days of the date.

(c)  Franchise authority hereby consents to and approves the grant by L.P. and Millennium of a security interest in all of their rights, powers and privileges under the franchise and in all of their other properties to such lender or lenders as may be designated by Millennium for financing purposes, which lender or lenders shall have the rights and remedies of a secured party under the Uniform Commercial Code of this state.

(d)  Franchise authority affirms that, as of the date of the resolution codified in this chapter, the franchise is valid and remains in full force and effect and will not expire until the end of its stated term, and no event has occurred which, with the passage of time or notice, or both, would constitute a default under the franchise. (Res. 98-137 §§ 1—4, 11/2/98).

5.42.020 Franchise sale approved.

(a)  Franchise authority consents to and approves the sale, assignment and transfer by Sun Cable of all of the assets of the system, including all rights and obligations under the franchise relating to the period from and after the date of the consummation of the sale, to Millennium, their respective successors, designees and assigns, and subsequent to such conveyance, releases Sun Cable from any obligations incurred under the franchise for the period from and after the date of the consummation of the sale.

(b)  Millennium and Sun Cable shall notify the franchise authority of the effective date of consummation of the sale within thirty days of the date.

(c)  Franchise authority consents to and approves the grant by Millennium of a security interest in all of their rights, powers and privileges under the franchise and in all of their other properties to such lender or lenders as may be designated by Millennium for financing purposes, which lender or lenders shall have the rights and remedies of a secured party under the Uniform Commercial Code of this state.

(d)  Franchise authority affirms that, as of the date of the resolution codified in this section, the franchise is valid and remains in full force and effect and will not expire until the end of its stated term, and no event has occurred which, with the passage of time or notice, or both, would constitute a default under the franchise. The stated term is fifteen years with one fifteen-year renewal period. Franchise is currently in the fifteen-year renewal period and remains in full force and effect. (Res. 2000-23 §§ 1—4, 2/28/00).