HomeMy WebLinkAbout20071368.tiff RESOLUTION
RE: CONSENT TO REFINANCING OF U.S. CABLE OF COASTAL - TEXAS, L.P.
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, U.S. Cable of Coastal-Texas, L.P., is duly authorized to operate and maintain
a cable communications system in Weld County pursuant to the terms and conditions of a
Franchise granted to U.S. Cable by Resolution of the Board County Commissioners of Weld
County, and
WHEREAS, U.S. Cable of Coastal -Texas, L.P., is in the process of refinancing its current
indebtedness and granting a lien on substantially all of its assets to the lender; and
WHEREAS, U.S. Cable of Coastal -Texas, L.P., has requested consent by the Board of
County Commissioners of Weld County, as Franchise Authority, to the proposed refinancing and
the granting of a lien on substantially all of its assets to the lender, in accordance with the
requirements of the Franchise.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that Consenting to the Refinancing of U.S. Cable of Coastal -Texas, L.P., from
the County of Weld, State of Colorado, by and through the Board of County Commissioners of
Weld County, be, and hereby is, approved.
BE IT FURTHER RESOLVED that the County of Weld hereby consents to the proposed
refinancing and the granting of a lien on substantially all of the assets of U.S. Cable of Coastal -
Texas, L.P. to the lender.
BE IT FURTHER RESOLVED that the Franchise is hereby confirmed, and shall continue
in effect pursuant to each of Weld County's individual provisions and terms.
2007-1368
(ifi . ORD94
(25 ,._ 7(-1-(27
CONSENT TO REFINANCING OF U.S. CABLE OF COASTAL - TEXAS, L.P.
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 14th day of May, A.D., 2007.
BOARD OF COUNTY COMMISSIONERS
/� WEL 11 i UNTY, COLORADO
ATTEST: 144/1111�I/: La`s 3- ( c=rel-1
vid E. Long, Chair
Weld County Clerk to the Bo.I.
1%61 �' `1Q USED
t 'aua` ••,•y am Tl. - -, Pro-Tem
BY: ` l . i� .
Deputy Clerk to the Board �: �;
�►. W' liam F. Garcia
APPRO D AS T re
Robed D. Masden
unty A torney Q -�
s--77-67 -Douglas ademacher
Date of signature:
2007-1368
ORD94
6000L-H-
TO: Weld County Board of County Commissioners
FROM: Cyndy Giauque, Assistant Weld County Attorney
DATE: May 10, 2007
COLORADO RE: U.S. Cable of Coastal-Texas, LP refinancing
U.S. Cable of Coastal-Texas, L.P. ("U.S. Cable") currently holds a franchise in Weld County
which requires U.S. Cable to obtain consent prior to finalizing any refinancing for its business.
U.S. Cable provides cable services to several towns in Weld County, and its customers in the
county are usually located immediately outside of the boundaries of the towns that receive U.S.
Cable services, which may include,but are not limited to, Ault, Eaton, Gilcrest, Keenesberg,
Johnstown, Milliken, Hudson, Kersey, Severance, and Pierce.
U.S. Cable is in the process of refinancing its loan with its current lender to obtain additional
resources to provide additional services to its customers, including those customers in Weld
County. The new loan will be from the same lender that holds the current indebtedness. The lien
that will be placed on the property will replace the current lien. There will be only one lien on
U.S. Cable's property.
The request for approval was submitted pursuant to the requirements of its Franchise Agreement
with Weld County, which requires in part:
27.1 The Cable System and this franchise shall not be sold, assigned, transferred, leased,
or disposed of, either in whole or in part, either by involuntary sale or by voluntary sale,
merger, consolidation, or mortgaged in any manner, nor shall title thereto, either legal or
equitable, or any right, interest, or property therein pass to or vest in any person or entity,
without the prior consent of the County, which consent shall not be unreasonably
withheld.
I have reviewed the files in the Clerk to the Board's office concerning this Franchise. The
franchise fees have been paid. There are no records of any complaints from citizens concerning
this cable service.
We recommend that the Board consent to U.S. Cable's request. U.S. Cable operates in small
areas of the county with relatively few subscribers. The actual holder of the Franchise will not
change, and the current service is expected to continue under the Franchise Agreement without
change, with the possibility of enhanced service for U.S. Cable customers.
If you have any questions, I am available.
2007-1368
Hello