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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11' <br />121 <br />13' <br />14 <br />I <br />151 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />27 <br />RESOLUTION NO. R-105-02 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON <br />EXPRESSING SUPPORT FOR AND PARTICIPATING IN A COALITION OF <br />LOCAL GOVERNMENT ENTITIES THAT ARE LOCAL FRANCHISING <br />AUTHORITIES IN COMMUNITIES WHERE ADELPHIA COMMUNICATIONS <br />IS A CABLE TELEVISION FRANCHISEE, WHICH COALITION WILL <br />DEVELOP AND IMPLEMENT A STRATEGY FOR PROTECTING THE <br />INTERESTS OF LOCAL GOVERNMENT, ITS RESIDENTS, AND ALL <br />ADELPHIA CABLE TELEVISION SUBSCRIBERS IMPACTED BY THE <br />ADELPHIA BANKRUPTCY <br />WHEREAS, Adelphia Communications hereinafter referred to as Adelphia, is aCity of <br />Colton cable television franchisee; and <br />WHEREAS, in recent months, Adelphia has undergone well-publicized financial <br />difficulties, including the disclosure of approximately $3.1 billion in previously undisclosed off- <br />balance sheet obligations, the commencement of a Securities and Exchange Commission <br />and two federal grand jury investigations, allegations of widespread corporate fraud, <br />substantial defaults on bondholder debts, numerous shareholder lawsuits against Adelphia, <br />and the arrest of five former Adelphia corporate executives; and <br />WHEREAS, on June 25, 2002, Adelphia, and more than two hundred (200) of its <br />subsidiaries, filed for bankruptcy protection; and <br />WHEREAS, recent press reports and other information indicate that Adelphia <br />attempted to sell many of its franchises to third -parties within the two weeks prior to the <br />bankruptcy filing, but those negotiations failed; and <br />WHEREAS, recent press reports and other information indicate that Adelphiahas <br />obtained $1.5 billion in debtor-in-possession financing to sustain its operations while the <br />bankruptcy is proceeding; and <br />WHEREAS, in the context of a bankruptcy, Adelphia will be required to assume, <br />assign, or reject the current franchise agreement with the City of Colton and during that <br />process, the City of Colton should play an active and important role so as to ensure that all <br />1 <br />