HomeMy WebLinkAboutResolution - 2015 RESOLUTION NO. 2015
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SAN JACINTO, CALIFORNIA, AUTHORIZING JONES
INTERCABLE OF SAN DIEGO, INC. , TO MORTGAGE, PLEDGE
OR GRANT A SECURITY INTEREST IN THE NON-EXCLUSIVE
CABLE TELEVISION FRANCHISE, THE CABLE TELEVISION
SYSTEM OR ANY PART THEREOF
WHEREAS, on June 18, 1985, the City Council of the City of San
Jacinto, State of California (the "City of San Jacinto") adopted
Ordinance No. 788, providing for the granting of franchises for
cable television systems; and
WHEREAS, on March 7, 1989, the City of San Jacinto adopted
Resolution No. 1813 granting to Jones Intercable of San Diego, Inc.
("Jones") , a non-exclusive cable television franchise (the
"franchise") ; and
WHEREAS, Jones intends, from time to time, to enter into
financing arrangements with its lending institution or institutions
and such lending institution or institutions generally require
Jones to pledge the assets of its cable television systems,
including the Franchise as security for its loans; and
WHEREAS, Section 7 of Ordinance No. 788 may require the
consent of the City of San Jacinto for an assignment of the
Franchise by Jones to its lending institution or institutions as
security for its loans.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of San Jacinto as follows:
1. Jones may from time to time mortgage, hypothecate or
grant a security interest in the Franchise to its lending
institution or institutions, which institution or
institutions shall have all the rights and remedies of a
secured party under the applicable Uniform Commercial
Code, and however, the consent granted in this Resolution
shall not be construed to impair any rights of City as
are contained in Chapter 5. 60 of the San Jacinto
Municipal Code, including, but not limited to, City's
rights to terminate the franchise as against Grantee's
interest or as against the interests of Grantee's
assignees or successors in interest.
2 . A true, correct and complete copy of the Franchise is
attached as Exhibit A. The franchise is valid, binding
and in full force and effect and is not in default.
APPROVED AND ADOPTED this 17th day of December, 1991, by the
following vote:
AYES: Councilmembers Ford , Eafliger, Leahy, Richards and
Mayor Boykin
NOES: None
ABSENT: None
ABSTAIN: None
Francis R. Boy} 'n, Mayor
ATTEST: �'
Maurice Armster, City Clerk
APPROVED AS TO FORM:
Jim Cox, City Attorney
The foregoing is a full, true and correct copy of Resolution No. 201.5
on file in this office.
Maurice Armster, City Clerk