HomeMy WebLinkAboutOrdinance 25-1975 . . �v �
ORDINA.NCE NO , 25-�5
AN ORDINANCE APPROVING OF THE TRANSFER OF A FRANCHISE
FROM KOTA CABLE TV COMPANY, INC., OF BROOKINGS, SOUTH DAKOTA.,
TO NORTHERN COMMUNICATIONS ASSOCIA.TES, A MINNESOTA L_IMITED
PARTNERSHIP OF MINNEAPOLIS, MINNESOTA.. .
BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF
BROOKINGS, SOUTH DAKOTA.,
I. That pursuant to the provisions of Section XXI of Ordiflance 647,
the City of Brookings does hereby approve of the transfer of the
franchise granted in said Ordinance from KOTA TV Company,
Inc. , of Brookings, South Dakota, to Northern Communications
Associates, a Minnesota limited partnership of Minneapolis,
Minnesota.
II. The City of Brookings further acknowledges notice that Northern
Communications Associates, proposes to obtain financing for' the '
acquisition and operation of the cable television system from the
First National Ba.nk of Mirfneapolis, Minnesota, and that the cable
television system covered by the franchise would be pledged as �
security therefore. In �he event of default by Northern Communi-
cations Associates to the First National Bank of Minneapolis,
Minnesota, the City of Brookings agrees that the First National
Bank of Minneapolis shall be entitled to assert any and all rights
provided by law to a secured party in the event of default, including .
but not limited to the actual operation of the cable television system
as the successor to the inCerest of Northern Communications
Associates therein.
III. That said Ordinance shall in all other respects remain in full force
and effect.
FIRST READING: November 25, 1975
SECOND READING: December 2, 1975, with Article II
propose as an amen ment_thereto.
PASSED A.ND APPROVED: December 2, 1975, as amended
CITY OF BROOKING� �
(SEAL)
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