Orange County NC Website
Browse       Search
I Use <br /> THARRINGTON,SMITH & HARGROVE <br /> Mr. David Taylor <br /> February 4, 1987 <br /> Page Three <br /> providing the funds to the Partnership is making the loans <br /> with the understanding that the funds are for acquisition <br /> and operation of the cable system. All of the assets of <br /> the cable system will be owned by the Partnership. The <br /> lender would like the additional assurance and security of <br /> knowing that the Partnership holds the franchise necessary <br /> for operation of the system. Accordingly, the Managing <br /> General Partner is seeking approval from each of the <br /> franchising authorities in the area allowing the fran- <br /> chises to be transferred to the Partnership. <br /> The Town of Chapel Hill will not be prejudiced in any <br /> way by the transfer of the franchise and will, in fact, <br /> have the increased security of knowing that the legal <br /> entity that owns the assets of the cable system is also <br /> the party directly obligated to fulfill the franchise <br /> obligations to the Town. <br /> The proposed transfer, of course, will not constitute <br /> - issuance of a new franchise, or a renewal, and will not in <br /> - any way extend the terms of the current franchise. <br /> Please let me know if you need any additional informa- <br /> tion. <br /> With best regards. <br /> Sincerely, <br /> THARRINGTON, SMITH & HARGROVE <br /> 0nyy°-+-44-02 rte.C . <br /> aall M. Roden <br /> RMR/js <br /> Enclosure <br /> cc: Ralph Karpinos, Esquire <br /> Mr. Greg Fuller (w/materials from Town's file on <br /> previous transfer) <br /> • <br /> MEW <br />