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31. • t. •' ?Ftr � Y. City Attorney Haynes presented a resolution authorizing transfer of franchise with Cooke Cablevision, Inc. to TCA Cable T.V. Inc. (Texas Channel Antenna Cable System). Fred Nichols, President of TCA Cable T. V. Inc. appeared before the Council requesting the transfer of the franchise from Cooke Cablevision to TCA. Mr. Nichols said they were one of seven cable companies that have gone together to purchase Mr. Cooke's Cable Company it stretches from South Carolina to Alaska, New York to California. Mr. Cooke stated his company is purchasing the systems in the State of Texas, New I� Mexico, and Mississippi, with headquarters being in Tyler, Texas. Mr. Nichols said they were permeant cable operators and had been in business since 1954. Mr. Nichols stated he had wording that needed to be added to the franchise transfer which basically says the franchise is presently in full effect and Cooke is in compliance with and not in fault with the terms and conditions of the franchise. City Attorney Haynes advised the Resolution would have to be reconstructed to incorporate this into the resolution. Mr. Nichols also said the name of the company is their wholly owned subsidiary, Texas Community Antenna Inc. in place of TCA, Inc. City Attorney Haynes asked Director of Finance for the City of Paris, W. E. Anderson, if the financial information was on Texas Community Antenna Inc. Mr. Anderson advised he had received an Annual Report from TCA Cable T. V. Inc. City Attorney Haynes advised the Council that when the franchise authorized to be assigned, the Council would be passing upon the company to which it is being assigned, and, if we have not had an opportunity to review it, it would be inappropriate to authorize this transfer. Mr. Anderson said there is a note to the financial statement prepared by an outside auditor that says TCA -Cable T.V. Inc., owns and operates Cable Television TCA Cable T.V. Mr. Anderson said that their consolidated statement is included, and names all the different firms. Mr. Anderson also said he could render an opinion on the financial statement that has been provided, and pointed out several areas to the Council, cash, net profit as for as sales, and said their liquidity indicated they could possibly ask for a rate increase. Mr. Nichols said they were a publicly owned company, they file SCC on a quarterly basic, but they do not file in the name of the subsidiaries, it is all in the name of the holding company, and said they could furnish a statement on the subsidiary system itself which would be un- audited, and would take approximately one to two weeks. On the recommendation of City Attorney Haynes, a motion was made by Councilman Fendley, seconded by Company Booth to table action on the Resolution until further information could be obtained. The motion carried 7 ayes, 0 nays. Resolution No. 89 -013 authorizing and directing City Manager, Michael E. Malone to execute a Corrected Lease Agreement with Eric S. Clifford and Victor Abeles for property located at Cox Field was presented. Mayor Clifford asked to be excused from the council chambers because of conflict of interest. A motion was made by Councilman Booth, seconded by Councilman Williams excusing Mayor Clifford. The motion carried 7 ayes, 0 nays, and Mayor Clifford departed the council chambers. A motion was made by Councilman Booth, seconded by Councilman Williams approving Resolution No.•89 -013 correcting lease agreement with Eric S. Clifford and Victor Abeles. The motion carried 6 ayes, 0 nays.