|
<br />nB
<br />
<br />TUESDAY
<br />
<br />SEPTEMBER 28, 1971
<br />
<br />ORDINANCE NO. F-1
<br />
<br />AN ORDINANCE OF THE CITY OF MARTINSVILLE, VIRGINIA,
<br />APPROVING THE TRANSFER AND ASSIGNMENT OF THE TELE-
<br />PHONE FRANCHISE FROM LEE TELEPHONE COMPANY, A
<br />VIRGINIA CORPORATION, TO NEW LEE, INC., ALSO A
<br />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
<br />an ordinance adopted on the 11th day of July, 1961, granted a
<br />franchise to Lee Telephone Company, a Virginia corporation, relating
<br />to the operation of a telephone system in the City of Martinsville
<br />for the period of thirty (30) years following the 21st day of July,
<br />1961; and
<br />
<br />Whereas, Lee Telephone Company's assets including franchises will be
<br />sold and assigned to New Lee, Inc., a Virginia corporation; and
<br />
<br />Whereas, said franchise ordinance contains certain provisions requiring
<br />approval of the Council of the City of Martinsville of any sale or
<br />assignment of the said franchise; and
<br />
<br />Whereas, Lee Telephone Company has filed written notice with the City
<br />Manager of the proposed sale and assignment; and
<br />
<br />Whereas, New Lee, Inc. has filed written notice with the City Manager
<br />of the proposed sale and assignment and acceptance of the terms of the
<br />franchise granted to Lee Telephone Company effective as of July 21,
<br />1961, and agreed to execute a bond in the penalty sum of Five Thousand
<br />($5,000) Dollars, with surety to be approved by the Council in favor
<br />of the City of Martinsville, Virginia, conditioned upon the performance
<br />of its obligations under the franchise; and
<br />
<br />Whereas, the cons~~Aiand approval of the Council of the
<br />of the vesting of/franchise rights in New Lee, Inc., by
<br />sale and assignment has been requested by Lee Telephone
<br />Lee, Inc.
<br />
<br />City of Martinsville
<br />said proposed
<br />Company and New
<br />
<br />Now, Therefore, Be It Resolved and Ordained by the Mayor and Council of
<br />the City of Martinsville, Virginia that New Lee, Inc. shall, effective
<br />upon the sale and assignment of the assets of Lee Telephone Company to
<br />New Lee, Inc., succeed to and be vested with all the rights and privileges,
<br />and it shall be subject to the duties and obligations, as granted to and
<br />required of Lee Telephone Company in the franchise originally granted to
<br />said Lee Telephone Company to operate a telephone system in the City of
<br />Martinsville for a period of thirty (30) years beginning July 21, 1961;
<br />that New Lee, Inc., before proceeding to act under this ordinance, shall
<br />execute a bond in the penalty sum of Five Thousand ($5,000) Dollars with
<br />surety to be approved by the Council, in favor of the City of Martinsville,
<br />Virginia, and conditioned upon the grantee's performance of its obligations
<br />under the franchise; that the authorization hereby granted is given on the
<br />
<br />^' "_"".'"""M""~_'''_''~"''~'"",~_'''''"'_~~_~___'"'_'.'''''"_....-...._--......-....~,_.,~~---~---
<br />
|