HomeMy WebLinkAboutord2000-035WHATCOM COUNTYCOUNCIL AGENDA BILL NO. 2000 -285
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SUBJECT.•
Ordinance in the Matter of Change in Control of Black Rock Cable, Inc. from Present Owner
to Seren Innovations, Inc.
ATTACHMENTS:
Ordinance
Related County Contract g:
Should Clerk schedule a hearing: NO / YES/ X/ Requested Date.
_UMMARYSTATEMENT.
Owner of Black Rock Cable, holder of non -exclusive franchise, County
Ordinance No. 99 -046, has requested approval of change in control of
Black Cable to Seren Innovations, Inc. contingent upon final closing of
sale of stock.
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COUNCIL ACTION TAKEN. •
2000 -285 ]/25/2000: Introduced
818/2000: Adopted 6 -0, Brenner absent Ord. #2000 -035
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WHATCOM COUNTY
PUBLIC WORKS DEPARTMENT
WHATCOM COUNTY COURTHOUSE '
311 Grand Avenue
Bellingham, WA 98225 -4038 �9s„jryGt °?
JEFFREY M. MONSEN, P.E.
Director
TO: The Honorable Pete Kremen, County Executive and
Honorable Members of the County Council
FROM: Daniel L. Gibson YZ
Whatcom County Deputy Prosecuting Attorney
RE: Black Rock Cable Franchise, Change in Control
DATE: July 14, 2000
Phone: (360) 676 -6692
County: (360) 398 -1310
FAX: (360) 738 -4561
Recently we received from John Kehres, majority stockholder of Black Rock Cable, Inc., a
request for written consent by the County of a change in control of Black Rock Cable from
himself to Seren Innovations, Inc. The request for written consent to the change in control is
contingent upon the final closing of the sale of stock. The date currently set for the closing is
September 30, 2000.
Seren Innovations, Inc. is a wholly -owned subsidiary of Northern States Power Company, a
large, publicly - traded company with its base of operations in the Midwest, primarily Minnesota.
It appears to be a financially sound entity, and should be capable, as the majority stockholder of
Black Cable, of enabling Black Rock to fulfill its obligations under the franchise.
It is my recommendation that the proposed ordinance authorizing the change in control of Black
Rock, Cable, Inc. to Seren Innovations, Inc, be presented to the County Council for its approval.
The ordinance should, if possible, be introduced at the July 25 Council meeting, with adoption
scheduled for its August 8 meeting.
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SPONSORED BY: Consent
PROPOSED BY: Executive
INTRODUCTION DATE: July 25.2000
ORDINANCE NO. 2000 -035
AN ORDINANCE IN THE MATTER OF APPROVING
A CHANGE IN CONTROL OF BLACK ROCK CABLE, INC.
FROM PRESENT OWNER TO SEREN INNOVATIONS, INC.
WHEREAS, Black Rock Cable, Inc. was granted a non - exclusive franchise dated October
4, 1999, under Ordinance 99 -046; and
WHEREAS, the franchise agreement, in Section 2.8, addressed.procedural requirements
to effectuate a change in control of Black Rock Cable, Inc., and
WHEREAS, Black Rock Cable, Inc. has requested written consent from the Whatcom
County Council to a change in control of the company from present ownership to Seren
Innovations, Inc.; and
WHEREAS, Seren Innovations, Inc. is a wholly -owned subsidiary of Northern States
Power Company, a large, publicly traded company that serves significant areas of the Midwest;
and
WHEREAS, Seren Innovations, Inc. appears, from information provided, to be a
financially sound corporate entity that has the ability to perform according to the terms of the
franchise agreement as it seeks to assume control of Black Rock Cable, Inc.;
NOW, THEREFORE, BE IT ORDAINED by the Council of Whatcom County,
Washington that this change in control of Black Rock Cable, Inc. be approved contingent upon
the final closing of the sale of stock to Seren Innovations, Inc.
ADOPTED this 8 day of August , 2000.
ATTEST:
``?��"Ybana Brown - Davis, Coun Jerk
�/ APPROVED AS TO FORM:
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Civil Deputy Prosecutor
WHATCOM COUNTY COUNCIL
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