Fiscal Note
None anticipated
Title
Authorizing the Mayor and City Clerk to sign Addendum IV to the Franchise Agreement with KMC Telecom to consent to the assignment of the Agreement to Century Tel Acquisitions, LLC.
Body
WHEREAS, in August, 1996, the City of Madison and KMC Telecom, Inc. (now known as KMC Telecom III, LLC) signed a Franchise Agreement for the construction, operation, and maintenance of a telecommunications network; and
WHEREAS, Article VIII of said Agreement requires that in order to transfer or assign ownership or control of KMC Telecom, Inc., the transfer or assignment shall be approved only if the transferree or assignee acknowledges the Ordinance (Chapter 36A, MGO), becomes a signatory to the Agreement, and assumes all obligations and rights under the Agreement; and
WHEREAS, KMC Telecom III, LLC. has requested approval of transfer and assignment of the Agreement to CenturyTel Acquisitions, LLC ("CenturyTel").
WHEREAS, CenturyTel has agreed to the requirements of Article VII of the Agreement;
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of Madison hereby authorizes the Mayor and City Clerk to sign Addendum IV to the Agreement with KMC Telecom, Inc.