Minutes 09/28/1971 - Laserfiche WebLink

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2( TUESDAY SEPTEMBER 28, 1971 ,..-..." BE IT RESOLVED by said Council that a copy of this resolution be forwarded to said Department of Highways. Council was informed of the possibility of obtaining State funds toward expanding the Southside Park complex, if the City will acquire certain properties--and dedicate same for specific recreation usages--which lie between said Southside Park and the City's Smith Lake property. Council, - however, expressed the opinion that recreational facilities and needs within other areas of the City presently are more pressing, meanwhile indicating approval of re-applying for Federal funds for the Souths ide Park complex. Mr. Shelton H. Blackwell, Jr., of Lee Telephone Company, appeared before Council in connection with the following matter and order of business: Among other things had and done at said meeting the Mayor announced that Lee Telephone Company, holder of the franchise for the operation of a telephone system in the City of Martinsville, Virginia, had filed with the City Manager written notice of the proposed sale and assignment to New Lee, Inc. of all assets, including the franchise granted to Lee Telephone Company effective as of July 21, 1961; that New Lee, Inc. had filed with the City Manager written notice reciting that it was acquiring all the assets of Lee Telephone Company including the franchise granted to Lee Telephone Company effective as of July 2l, 1961, that it was accepting the terms of said franchise, and agreed to perform all of the conditions thereof including furnishing a bond; and that both the Vendor and Vendee had requested the Council to give its approval, as required under Section l5 of said franchise ordinance, to the transfer and assignment of said franchise which will result from the sale and assignment of the assets of Lee Telephone Company of New Lee, Inc., a Virginia Corporation. It was explained that the proposed sale and assignment of the assets to New Lee, Inc. was part of a plan to simplify the corporate structure of Central Telephone & Utilities Corporation system, that upon completion of said sale of assets New Lee, Inc. will change its name to "Lee Telephone Company", and that the sale of assets would not result in any changes in the management or operations. Whereupon, after a full discussion, the following proposed Ordinance was introduced, assigned No. F-l, and read in full: