Agenda - Council - 11/22/2016 - Laserfiche WebLink

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Person of an interest of five percent (5%) or more in a single transaction shall require notice to the City. 10.5.3 The Grantee shall file, in addition to all documents, forms and information required to be filed by applicable law,the following: 10.53.1 All contracts, agreements or other documents that constitute the proposed transaction and all exhibits, attachments, or other documents referred to therein which are necessary in order to understand the terms thereof, 10.53.2 A list detailing all documents filed with any state or federal agency related to the transaction including, but not limited to, the Minnesota Public Utilities Commission ("MPUC"), the Federal Communications Commission ("FCC"), the Federal Trade Commission ("FTC"), the Federal Election Commission ("FEC"), the Securities and Exchange Commission ("SEC") or the Minnesota Department of Transporitation (WhOOT"). Upon request, Grantee shall provide City with a complete copy of any such document; and 10.533 Any other documents or information related to the transaction as may be specifically requested by the City. 10.5.4 The City shall have such time as is permitted by federal law in which to review a transfer request. 10.5.5 Grantee shall reimburse City for all the reasonable legal, administrative, consulting costs and fees associated with the City's review of any request to transfer. Nothing herein shall prevent Grantee from negotiating partial or complete payment of such costs and fees by the transferee. Grantee may not itemize any such reimbursement on Subscriber bills, but may recover such expenses in its Subscriber rates. 10.5.6 In no event shall a sale, transfer, corporate change, or assignment of ownership or control pursuant to subsections 10.5.1 or 10.5.2 of this Section be approved without the transferee becoming a signatory to this Franchise and assuming all rights and obligations hereunder. 10.5.7 In the event of any proposed sale, transfer, corporate change, or assignment pursuant to subsection 10.5.1 or 10.5.2, the City shall have the right to purchase the System for the value of the consideration proposed in such transaction. The City's right to purchase shall arise upon City's receipt of notice of the material terms of an offer or proposal for sale, transfer, corporate change, or assignment, which Grantee has accepted. Notice of such offer or proposal must be conveyed to City in writing and separate from any general announcement of the transaction. 10.5.8 The City shall be deemed to have waived its right to purchase the System pursuant to this Section only in the following circumstances: 42 48923242 RJV QU210-6