HomeMy WebLinkAbout1986-11-18; City Council; Resolution 88824
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RESOLUTION 8882
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING THE MORTGAGING AND HYPOTHECATION OF THE PROPERTY OF DANIELS
CABLEVISION, INC. BY THE SECURITY PACIFIC NATIONAL BANK
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WHEREAS, Section 5.28.140(d) of the Carlsbad Municipal
code requires that a mortage or hypothecation of more than
fifty percent (50%) of the market value of the property of the
franchise be approved by the City Council; and,
WHEREAS, Daniels Cablevision, Inc. wishes to enter into
certain financial agreements with the Security Pacific
National Bank for the mortage and hypothecation which value
exceeds fifty percent (50%) of the market value of the property:
NOW, THEREFORE, BE IT RESOLVED, by the City Council of
the City of Carlsbad as follows:
1. The above recitations are true and correct.
2. The City hereby approves the mortgage and hypothecation
of Daniels Cablevision, Inc. by the Security Pacific National
Bank.
PASSED APPROVED AND ADOPTED at a regular meeting of the
Carlsbad City Council held on the 18th day of November 1986
by the following vote, to wit:
AYES: Council Members Lewis, Kulchin, Chick and Pettine
NOES : None
ABSENT: Council Member Casler
CLAUDE A. LEWIS, Mayor Pro-Tei
ALETHA L.