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HomeMy WebLinkAbout1725 - AN ORDINANCE OF THE CITY OF ARCADIA CONSENTING CONDITIONALLY TO THE MERGER BETWEEN TELEPROMPTER CORPORATION AND T. C. ACQUISITION, INC., A SUB- SIDIARY OF WESTINGHOUSE ELECTRIC CORPORATION. THE CITY COUNCIL OF THE CITY OF ARCADIA, CALIFORNIA, DOES HEREBY ORDAIN AS FOLLOWS: SECTION 1. The City Council of the City of Arcadia, at the request of Teleprompter Corporation, a Delaware corporation, doing business as Teleprompter of Sierra Madre, does hereby consent to its merger with T.e. Acquisition, Inc., on the following terms and con- ditions: 1. That our consent is based on the accuracy of the representa- tions made in the request dated February 10, 1981 from Teleprompter and letters dated February 27, 1981 and April 7, 1981 from Teleprompter's Associate Counsel, which are on file with the City Clerk. 2. That the new corporation resulting from the merger be named Teleprompter Corporation. 3. That we hereby find that the new corporation is financially responsible only so long as it remains a subsidiary of Westinghouse Electric Corporation and it shall remain so during the term of its franchise unless consent to modification of subsidiary status is first p~~cure~ _from the City Council of the City of Arcadia pursuant to the pr~cedure set forth in City of Arcadia Ordinance No. 1646, Section 9(d). - - __ _n 4. That the new corporation and each corporation in the sub- sidiary chain as represented by Teleprompter Corporation, to wit: Westinghouse Cable Acquisition, Inc., a subsidiary of Westinghouse Broadcasting Company, Inc., a subsidiary of Westinghouse Electric Corporation, execute an "Acceptance of Cable Television System Franchise" agreeing to be bound by and to comply with and to do all things requ~red by the provisions of City of Arcadia Ordinances No. 1647 and 1646, in a form approved by the Arcadia City Attorney. -1- 1725 this ordinance is, for any reason, held to be invalid or unconstitutional by the decision of any court of competent jurisdiction, such decision shall not affect the validity of the remaining portions of this ordinance. The City Council of the City of Arcadia hereby declares that it would have adopted this ordinance and each section, subsection, sentence, clause, phrase or portion thereof irrespective of the fact that anyone or more sections, subsections, sentences, clauses, phrases or portions be declared invalid or-unconstitutional. SECTION 3. Neither the adoption of this ordinance nor the repeal hereby of any ordinance shall in any manner affect the prosecution for violation of ordinances, which violations were committed prior to the effective date hereof, nor be construed as affecting any of the provisions of such ordinance relating to the collection of any such license or penalty or the penal provisions applicable to any violation thereof, nor to affect the validity of any bond or cash deposit in lieu thereof, required to be posted, filed or deposited pursuant to any ordinance and all rights and obligations thereunder appertaining shall continue in full force and effect. SECTION 4. The Clerk of the Council shall certify to the passage and adoption of this ordinance and shall cause the same to be published in the official newspaper of the City of Arcadia within fifteen (15) days after its adoption. PASSED AND ADOPTED BY THE CITY COUNCIL of the City of Arcadia at its regular meet- ing held on the 2nd day of June, 1981. SIGNED AND APPROVED this 2nd day of J\me, 1981. I HEREBY CERTIFY that the foregoing ordinance was adopted at a regular meeting of the City Council of the City of Arcadia, California, held on the 2nd day of June, 1981 , by the affirmative vote of at least three Councilmen, to wit: AYES: Coilllcilroen Dring, Halton, Pellegrino, Saelid and Gilb NOES: None ABSENT: None -2- 1725