(A) The request of Galaxy Cable, Inc., d/b/a/ Galaxy Cablevision, to renew the cable television franchise granted in Ord. 310, passed June 18, 1982, thereafter assigned and amended, and to change the expiration date thereof to June 18, 2023, is hereby granted.
(B) Subject to Galaxy and Zito closing the underlying sale of Galaxy’s cable system in the city, the city hereby consents to the assignment and transfer of all rights and privileges of the franchise from Galaxy to Zito, together with all duties and obligations of Galaxy under the franchise and, upon the transfer from Galaxy to Zito, hereby releases Galaxy from any and all duties and obligations under the franchise which arise from and after the effective date and time of the closing of such transfer. The city further consents to Zito’s collateral assignment of, or grant of a security interest in, the franchise to its lenders to secure indebtedness or other obligations that may be incurred by it with respect to the cable television system. Nothing in this section constitutes any waiver of any rights by the city to approve any subsequent transfer, assignment or sale of the franchise.
(Ord. 310, passed 6-18-1982; Ord. 766, passed 6-5-2007; Ord. 772, passed 12-4-2007; Ord. 797, passed 10-5-2010)