Resolution 1996-441
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SEP 2 4 199R
RESJLUTION NO. 96-~!__
^ RI;SOLUTION OF THE BOARD (IF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA CONSENTING TO TilE TRANSFER OF
COMHOf. STOCK OF TIME WARNEH, INC., THE ENTITY WHICH
CONTROLS FLORIDA CABLEVISIJN MANAGEMENT CORP., TO
STOCKHOLDERS OF TUR~ER BROADCASTING SYSTEM, INC.
WHEREAS,
Florida
Cablevision
Management
Corp. ,
d/b/a
Cablevision Industries ("eVI") QWI1S, operates and maintains cable
television systems in Collier County, Florida pursuant to the
Franchise Agreement bet~leen Florida Cablevision Management Corp.
and Collier County dated March 27, 1987 and the Agreement between
Florida Cablevision Mar.agement Corp. and Collier County dated
March 31, 1987 (collectively the "eVI Franchise Agreements"); and
WHEREAS, Florida Cilblevision Management Corp. is controlled
by Time Warner, Inc. {Trill, a Del,3.ware Corporation; and
"
WHEREAS,
pursuant to an agreement to acquire Turner
Broadcasting System, Ino:. (TBS), TWI has agreed to issue shares
of
its
stock
common
to TBS
Shareholders,
which
equals
approximately thirty-one percent (31%) of the outstanding COmmon
shares of TWI; and
WHEREAS, pursuant to Section 17.13 of Collier County
Ordinance No. 88-90, th,= County's consent to this stock transfer
is required; and
WHEREAS, the Boarcl of County Commissioners has considered
the proposed stock transfer and has found no reasonable cause to
deny consent to the stOt:k transfer; and
NOW, THEREfORE, EE IT RESOLVED BY THE BOARD Of COUNTY
COMMISSIONERS Of COLLIEIl COUNTY, fLORIDA, that:
1.
The Board herejy consents to the transfer
percent (31%) of the common stock of
shareholders.
of thirty-one
TWI to TBS
IOO~ UQ(kd 25
.. 1 -
~,
SEP 2 4 1996
2. This Resolutior shall take effect immediately upon
adoption.
This Resolution adopted this .d:f! day of ~~
1996 after motion, second and majority vote favoring same.
ATTEST.;. .....
Dw.IGfn, E. .BROCK,. Clerk
'~~:, h~:~'C':~~;'\ J) ~
~ " ~
, ' .
. .
'-; \'. [
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
,
,
"'" ..",...
Appro';;ed"as to form and
legal sufficiency:
1-1. d, if ~A
Heidi F. Ashton
Assistant County Attorney
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