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LIJT~ .094 31 <br />SEAT T T U T[~V <br />wHEREaS, CC VIII Qpexatang, LLC ~"Franchisee"~, an indirect, wholl T~owned subsidia <br />~ rY <br />of Charter Communications, Inc, ~"Charter"~, owns a cable television s stem the "S stem" in the <br />~~ y C y ~ <br />City of Elk River, Minnesota the Franchise Authority"~; and <br />wHEREaS, Franchisee operates pursuant to a cable franchise oxdha.ance "Franchise" <br />~ ~ <br />issued by the Franchising Authority; and <br />WHEREAS, an March 27, 2009, Chaxter and certaita of its subsidiaries filed volunta <br />rY <br />petitions ~ the United States Bankt~uptcy Court fox the Southern District of New York <br />~"Bankruptcy Court"~ seeking relief under the provisions of Cha ter ~ i of Title 1 l of the Uni <br />State p red <br />s Code in order to effectuate a fnaancial restructuringCase No. 09-~ ~ 435 ;and <br />WHEREAS, pursuant to the terms of agreements entered into between Charter and its ke r <br />bondholders, Charter's current Class A Common Stocl~ ~ <br />and Class B Common Stock will be <br />cancelled and replaced with new voting stock awned by Paul G, Allen and such bondholders as <br />escxibed in £ili.ngs with the Bankruptcy Court the "Reorganization" , co ies of which ha~re been <br />7 p <br />provided to the Franchise authority; and <br />~1HEREAS, pursuant to the Reorganization, the voting i~,terest of Charter's current <br />principle shareholder, Paul G. Allen and his afi"iliated entities, will be reduced from a roxim <br />pp ately <br />9~.% to 35%, and new stockholders principally certain bondholders will ac uire the remainin G5° o <br />~ q g / <br />of the vob.~.g shares; and <br />WHEREAS, under both the Franchise and Minnesota Statutes, Section 23$.0$3 the <br />Franchising authority's written approval of the Reorganization is necessa ~ and <br />~~ <br />~JHEREaS, ~ April, 2009, Charter requested the Franchisee Authori 's written a royal <br />g ~' pp <br />of the Reorganization by filing Federal Communicafi.ons Commission "FCC" Farm 394 and <br />~ ~ <br />WHEREAS, the City has reviewed the FCC Form 394 and finds that the Reo.r anization as <br />described therein will not materiall im ~ g ' <br />a y pair the legal, technical or financial ability of Charter ar <br />Franchisee to perform. under the terms of the Franchise, <br />WHEREAS, the Franchise authority has considered and a roves of the Reor aniza~.on <br />pp g <br />described above, <br />S:IResolutianslCharter R~structl~ring Canser~t,DOC <br />