HomeMy WebLinkAbout860206.tiff RESOLUTION
RE: APPROVE AND CONSENT TO THE CREATION OF A SECURITY INTEREST IN
AND THE ENCUMBRANCE OF THE ASSETS AND CABLE TELEVISION
FRANCHISE OF SOUTHWEST CABLEVISION, LTD.
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, Southwest owns and operates a cable television
business and system in the County (the "System") and in connection
therewith holds a cable television franchise issued by the County
(the "Franchise" ) , and
WHEREAS , the lenders of Southwest Cablevision require
Southwest to obtain the approval and consent of the Board to the
creation of a security interest in and the encumbrance of the
Franchise and the said System conducted pursuant thereto in order
to secure indebtedness.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado , that the Board hereby
approves of and consents to the creation of a security interest in
and the encumbrance of the Franchise and the System in order to
secure indebtedness.
BE IT FURTHER RESOLVED by the Board that in the event of a
foreclosure by reason of the aforesaid indebtedness , the County
hereby reserves the right to approve of any purchaser (s) at a
foreclosure sale (or for a lender (s) to own and operate the same
as mortgagee-in-possession) , and to the operation of the System
pursuant to and in accordance with the Franchise by the
purchaser (s) or any said lender (s) and then only upon the written
acceptance of the rights and obligations of the Franchise.
BE IT FURTHER RESOLVED by the Board that the consents and
approvals hereby granted are given pursuant to the terms and
provisions of the Franchise, but do not, however, constitute and
shall not be construed to constitute a disclaimer or waiver of any
rights granted to the County under the Franchise.
P 9 �. (;) 860206
✓, � Hof'..
Page 2
RE: CABLE TV FRANCHISE - SOUTHWEST CABLEVISION, INC.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 26th day of
February, A.D. , 1986.
/J � n BOARD OF COUNTY COMMISSIONERS
ATTEST: 11 t tx.N�.v- iiv WELD COUNTY, COLORADO
Weld County Clerk and Recorder
and Clerk to the Board %•cq `-.li5 - • son Chairman
• .r"* r . ac.7 -„- em
eputy County C erk
APPROVED AS TO FORM: Gene R. Bran ner
7y ., n
/ , C.W. r
Cou Attor "ui -IC-7"":"7--atra
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860206
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