CCR1989174COMMON COUNCIL - CITY OF MUSKEG0
RESOLUTION #174-89
CONSENT TO COLLATERAL ASSIGNMENT OF LEASE
(Ingersoll Industries, Inc.)
WHEREAS, Resolution A116-89 approved the collateral assignment of
the cable television franchise issued to Ingersoll Industries, Inc. , and
WHEREAS, Ingersoll Industries, Inc. has requested the City
consent to the collateral assignment of the lease for the Old
Muskego Settlement Centre where the earth station dish is located
to Bankers Trust Company, and
WHEREAS, the Finance Committee has recommended approval of the
collateral assignment.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the
City of Muskego, upon the recommendation of the Finance
Committee, does hereby consent to the Collateral Assignment of
the Lease for the Old Muskego Settlement Centre where the earth
station dish is located, and does hereby authorize the Mayor to
sign the necessary documents in the name of the City, as 0 attached.
DATED THIS 27th DAY OF June , 1989.
FINANCE COMMITTEE
Ald. Edwin P. Dumke
Ald. Daniel J. Hilt
Ald. Harold L. Sanders
ATTEST :
City Clerk
6/89
jz
Bankers Trust Company
200 Park Avenue
New York, New York
Gentlemen:
Common Council of the City of Muskego (the "City"), in which
Reference is made to Resolution 11116-89, adopted by the
the Common Council approved the collateral assignment of the
cable television franchise (the "Franchise") issued to
Ingersoll Industries, Inc. ("Ingersoll") by the City.
Reference is also made to the lease by Ingersoll fro? the
City, of certain premises owned by the City (the "Prsmises")
pursuant to Section 12.19(17)(b) of Chapter 12 of the
Municipal Code of the City of rluskego, as amended by an
Agreement between Ingersoll and the City dated :.larch 12,
1985 (collectively, the "Lease"), which Lease is ?art of the
Franchise.
We have been asked by Ingersoll to consent to and
approve the execution and delivery by Ingersoll of a
collateral assignment of the Lease in connection Kit3 the
loan which has been made to Ingersoll by Bankers Trust
Company in its capacity as agent.
By its execution hereof, the City hereby c3nsencs tg
and approves the execution and delivery by Ingerjoll of a
collateral assignment of the Lease to Bankers Trust,
pursuant to which Ingersoll will grant all of its rizht,
title and interest in and to the Lease and the leasehold
estate in the Premises and assign all leases, s~bleases,
rents and profits and grant other security interests in the
Premises.
By consenting to the above, the City does n3t viive any
Cable Corporation and/or Ingersoll Industries, Znc. snd
of its rights under the applicable agreements uFth Ingersoll
applicable laws and ordinances.
Sincerely,
CITY OF MUSEKG9
Wayne G. Salentiae
Mayor
cc: City Clerk
A lde r;le 11
File c:ahle 1989