ORD NO 30-1996 CI'T'Y OF VAN BUREN, ARKANSAS
ORDINANCE NO. .2 1) -1996
AN ORDINANCE TRANSFERRING THE CABLE, TELEVISION SYSTEM FRANCHISE,
FROM WT ACQUISITION CORPORATION TO TCA CABLE PARTNERS.
WHEREAS, On February 10, 1994, the City Council of Van Buren,
Arkansas (the "Council granted to Van Buren T.V.
Cable Company, Inc. a franchise (effective as of
March 10, 1994) as set forth in Ordinance No. 3 -1994
(the "Franchise to own and operate a cable
television system in Van Buren, Arkansas (the
"City and,
WHEREAS, The Council consented to and approved the
assignment of the rights, title and interest of Van
Buren Cable Company, Inc. in and to the Franchise
to WT Acquisition Corporation "WTAC as set forth
in Ordinance No. 5 -1994, dated February 28, 1994;
and,
WHEREAS, WTAC and TCA Cable TV, Inc., a Texas corporation
(TCA Inc. have executed and asset purchase
agreement whereby WTAC committed to sell and
convey its cable television system serving the City
and related assets (the "System to TCA, including
al rights, title and interest of WTAC in the
Franchise; and,
WHEREAS, TCA Inc. has assigned the Agreement to TCA Cable
Partners, a Delaware general partnership "TCA
Partners
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF VAN BUREN, ARKANSAS:
SECTION l: That the City hereby consents to and approves,
subject to applicable law, the assignment by WTAC
of its rights, title and interest in and to the
Franchise to TCA Partners, and the assumption by
TCA Partners of the obligations of WTAC under the
Franchise which accrue from and after the date of
closing of the purchase of the System by TCA
Partners.
SECTION 2: That with the exception listed below, the City
confirms that: (a) the Franchise is currently in full
force and effect and expires on March 9, 2014: (b)
W'l'AC is in material compliance with the provisions
of the Franchise; and (3) there exists no known fact
or circumstances which constitutes, or which with
the passage of time or the giving of notice or both
would constitute a default or breach under the
Franchise, or would allow the City to cancel or
terminate the rights under the Franchise except
upon the expiration of the full term thereof.
However, this confirmation does not prohibit the
City from conducting an audit of WTAC's Van
Buren's cable operations or from exercising any of
the City's legal rights regarding the collection from
WTAC of any money owed the City by such operation.
SECTION 3: That TCA Partners may transfer the Franchise or
control related thereto to any entity controlling,
controlled by, or under common control with TCA
partners upon notice to the City of such transfer.
SECTION 4: That the City approves the assignment, mortgage,
pledge or other encumbrance of the Franchise or
assets of TCA Partners as collateral for a loan.
SECTION 5: That this Ordinance shall not become effective until
TCA Partners purchases the System from WTAC and
assumes the obligations of WTAC under the
Franchise.
PASSED AND APPROVED THIS 9TI-I DAY OF SEPTEMBER 1996.
MAYOR C
ATTESTED:
CITY CLERK /TREASURER