Laserfiche WebLink
<br />TUESDAY, AUGUST 25, 1987 <br /> <br />~ <br /> <br />respectively, by Mr. Patrick J.Conley (Vice President - Operations, Multi-Channel) <br /> <br />and Mr. John Rigas (President, Adelphia Communications), Council unanimously adopted <br /> <br />the following resolution which reflects Council's consent of the sale of all of <br /> <br />Multi-Channel's stock to Adelphia Communications Corporation as well as reflects <br /> <br />Council's reaffirmation of the terms and conditions of the franchise previously <br /> <br />granted Multi-Channel and now bein8 transferred to Adelphia Communications, thus <br /> <br />- <br /> <br />binding Adelphia Communications to said terms and conditions: <br /> <br />WHEREAS, Hulti-Channel T.V. Cable Company ("Multi-Channel") owns <br />the Cable Television Franchise for the City of Martinsville, <br />Virginia, and has advised the City Council of the City of Martinsville, <br />Virginia, that its sole shareholder has entered into an agreement <br />wherein Adelphia Communications Corporation or its wholly-owned sub- <br />sidiary will acquire all of the stock of Multi-Channel; and <br /> <br />WHEREAS, Multi-Channel has requested approval from the City Council of <br />the City of Martinsville, Virginia, for the proposed transaction <br />pursuant to the terms of the franchise agreement; and <br /> <br />WHEREAS, Adelphia Communications Corporation or its wholly-owned <br />subsidiary has agreed that it will continue to be bound by the terms <br />and conditions of the franchise after its transfer from Multi-Channel; <br />now, therefore, <br /> <br />BE IT RESOLVED by the Council of the City of Martinsville, Virginia, in <br />regular session assembled August 25, 1987, that said Council hereby <br />reaffirms the terms and conditions of its franchise and consents to the <br />sale of all of the stock of Multi-Channel to Adelphia Communications <br />Corporation or its wholly-owned subsidiary. <br /> <br />- <br /> <br />City Manager Brown informed Council that there is likelihood that professional <br /> <br />baseball might be brought to Martinsville, for which there is much local <br /> <br />enthusiasm and support, if Mr. Dennis R. Bastien, President/Owner of the Winston- <br /> <br />Salem Spirits, can obtain a minor league franchise therefor, in which case <br /> <br />improvements to English Field (leased by the City from Hooker Furniture Corporation, <br /> <br />now on a year-to-year basis at a cost to the City of $706.00 per year, an amount <br /> <br />equal to the taxes now assessed by the City thereon, which Hooker Furniture <br /> <br />Corporation has tentatively agreed to lease to the City for a period of up to <br /> <br />five years for this purpose and on the same conditions) will be required, the <br /> <br />------^-.---------------,.-- <br />