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<br />~ <br /> <br />TUESDAY <br /> <br />MARCH 13, 1973 <br /> <br />,.- <br /> <br />Council deferred action on this request, pending a thorough study thereof by City <br /> <br />Manager Noland and Assistant City Manager Brown, in consultation with the City's <br /> <br />consulting engineers and with the City Planning Commission. <br /> <br />Among other things had and done at said meeting the Mayor announced that Lee <br /> <br />Telephone Company, holder of the franchise for the operation of a telephone system <br /> <br />_. <br /> <br />in the City of Martinsville, Virginia, had filed with the City Manager written <br /> <br />notice of the proposed merger of Lee Telephone Company into Virginia Telephone & <br /> <br />Telegraph Company; that Virginia Telephone & Telegraph Company had filed with the <br /> <br />City Manager written notice of the merger, that it was accepting the terms of said <br /> <br />franchise, and agreed to perform all of the conditions thereof including furnishing <br /> <br />a bond; and that both parties to the merger had requested the Council to give its <br /> <br />approval, as required under Section 15 of said franchise ordinance, to the transfer <br /> <br />and assignment of said franchise which will result from the merger of Lee Telephone <br /> <br />Company into Virginia Telephone & Telegraph Company, a Virginia Corporation. It <br /> <br />was explained that the proposed merger was part of a plan to simplify the corporate <br /> <br />structure of Central Telephone & Utilities Corporation system and that the merger <br /> <br />would not result in any changes in the operations. Whereupon, after a full <br /> <br />discussion, the following proposed ordinance was introduced, assigned No. F-2, and <br /> <br />read in full: <br /> <br />Ordinance No. F-2 <br /> <br />AN ORDINANCE OF THE CITY OF MARTINSVILLE, VIRGINIA, APPROVING THE TRANSFER <br />AND ASSIGNMENT OF THE TELEPHONE FRANCHISE, THROUGH A MERGER OF THE COMPANIES, <br />FROM LEE TELEPHONE, A VIRGINIA CORPORATION, TO VIRGINIA TELEPHONE & TELEGRAPH <br />COMPANY, ALSO A VIRGINIA CORPORATION. <br /> <br />Be It Ordained by the Council of the City of Martinsville, Virginia: <br /> <br />That, Whereas, the City of Martinsville, a municipal corporation <br />organized and existing under the laws of the State of Virginia, by an <br />ordinance adopted on the 11th day of July, 1961, granted a franchise to <br />Lee Telephone Company, A Virginia Corporation, (which was transferred to <br />