HomeMy WebLinkAbout1985-01-02; City Council; Resolution 7861i
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Resolution No. 7861
WHEREAS, in/ accordance with the provisions of Section
5.28.140(d) of the Carlsbad Municipal Code Carlsbad Cablevision,
A Limited Partneyship has requested approval to mortgage and
hypothecate its clable television franchise granted by the City
of Carlsbad and (its other property in favor of Mellon Bank,
N.A.; and I
, WHEREAS, thils change has resulted in administrative costs
to the city due qolely for the benefit of Carlsbad Cablevision,
A Limited Partnership; and
NOW, THEREFOIRE, BE IT RESOLVED by the City Council of the
City of Carlsbad as follows:
1. That thc
2. costs t
hypothecation wi:
3. Pursuani
pal Code, the Ci
mortgaging and t-
granted by the C:
and interests of
secure an indebt
The Bank or its
foreclosure or
possession or ot
and may operate i
Cablevision, A 1 or otherwise, ani
ests, rights anr
Partnership; pro
bad Cablevision,
its cable televi
and the Bank sha.
granted under sa
Partnership.
above recitations are true and correct.
irne by the City relative to the mortgage and
1 be reimbursed to the City.
to Section 5.28.140(d) of the Carlsbad Munici-
y Council of the City of Carlsbad approves the
pothecation of the cable television franchise
:y of Carlsbad and the other assets, properties
Carlsbad Cablevision, A Limited Partnership to
dness in favor of Mellon Bank, N.A. ("Bank").
subsidiary or affiliate may succeed through
eed in lieu of foreclosure as mortgagee in
erwise under such mortgaging and hypothecation
le cable television system operated by Carlsbad
imited Partnership as mortgagee in possession
shall be entitled to and shall have all inter-
benefits of Carlsbad Cablevision, A Limited
ided that, nothing herein shall release Carls-
A Limited Partnership of its obligations under
ion franchise granted by the City of Carlsbad,
1 have and receive no greater rights than those
d franchise to Carlsbad Cablevision, A Limited
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PASSED, APPRbVED AND ADOPTED at a Regular Meeting of the
Carlsbad City Council, held on the 2nd day of January
1985, by the foll4wing vote, to wit:
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AYES : Coufcil Merrbers Casler, Lewis, Kulchin, Chick and Pettine
NOES: None
ABSENT: ~ None
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\TTEST:
, Mayor
d. 6.-
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