NUMB:
991352
VERS:
SUBSTITUTE 1
REF:
XXBY:
ALD. HENNINGSEN AND GORDON
TITL:
Substitute resolution relating to feasibility of issuance and sale of up to $1,500,000 public access manager revenue bonds to be secured by cable television franchise fee revenues.
ANLS:
- Analysis - This resolution authorizes and directs the Comptroller to determine the feasibility and fiscal appropriateness of issuing $1.5 million in revenue bonds, secured by the City's 5% of gross revenue franchise fee, which is to be paid by Time Warner of Southeastern Wisconsin, LP (Time Warner) under the terms of the 17-year renewal cable television franchise agreement (Renewal Agreement) being considered under Common Council File No. 981230. Common Council File No. 980530 repeals and recreates Chapter 99, which regulates cable systems, and specifically authorizes the Common Council to designate the City's current public access manager, the Milwaukee Access Telecommunication Authority (MATA) as the City's access manager for the term of the Renewal Agreement. The $1.5 million grant would be in addition to the public, educational and government (PEG) grant provided by Time Warner under the Renewal Agreement. If the Comptroller finds that such bond issuance is not feasible, the Comptroller is directed to recommend to the Common Council another means by which to provide a $1.5 million grant to the access manager with the grant funds provided from cable television franchise fee revenues received by the City. The resolution includes Common Council findings that the Renewal Agreement would be enhanced and Milwaukee citizens would benefit if the $1.5 million grant is made to the cable access manager and funded from City cable franchise fee revenues.
BODY:
Whereas, The Milwaukee Access Telecommunications Authority (MATA) is a nonprofit community media center that manages public access under the City's current cable television franchise agreement; and
Whereas, MATA has maintained a 15-year reputation for being one of the best public access centers in the country, and received a national award in 1999 for overall excellence in public access; and
Whereas, MATA has provided production services to more than 400 nonprofit groups, many of which rely on the MATA "community bulletin board" to announce their activities and services; and
Whereas, MATA annually trains 600 to 800 Milwaukee residents in using video production equipment and the airways, instructing more than 15,000 community members since 1985; and
Whereas, MATA maintains a high level of discrimination-free diversity, has a strong tradition of media literacy and encourages the preservation, development and enrichment of different viewpoints in thought, culture and heritage to serve the entire greater Milwaukee community; and
Whereas, The Common Council is considering Common Council File No. 981230, which approves a renewal cable television franchise agreement (Renewal Agreement) with Time Warner of Southeastern Wisconsin, LP (Time Warner); and
Whereas, Under the terms of the Renewal Agreement, Time Warner will provide a public, educational and governmental (PEG) grant of at least $5.2 million to the City, and the City may use that PEG grant funding to fund public access services and programming during the 17-year term of the Renewal Agreement; and
Whereas, The City will receive 5% of Time Warner's gross revenues as a franchise fee during each year of the Renewal Agreement; and
Whereas, Public access programming provided under the Renewal Agreement would be enhanced and the citizens of the City of Milwaukee benefited if an additional $1.5 million in City Grant funds are provided to the access manager designated by the Common Council; and
Whereas, A possible method of generating the City Grant is through the sale of revenue bonds (Access Bonds) secured by franchise fee revenues received by the City under the Renewal Agreement; and
Whereas, Prior to the issuance of the Access Bonds, the Comptroller must determine the feasibility and fiscal appropriateness of the issuance of such bonds; now, therefore, be it Resolved, By the Common Council of the City of Milwaukee, that the Common Council finds that public access television programming provided under the renewal cable television franchise agreement (Renewal Agreement) with Time Warner of Southeastern Wisconsin, LP (Time Warner) that the Common Council is considering for approval in Common Council File No. 981230 would be enhanced and the citizens of the City of Milwaukee would be benefited if, in addition to monies provided from the public, educational and government (PEG) grant, City Grant funds in the amount of $1.5 million are provided to the cable access manager designated by the Common Council under the provisions of Chapter 99, Milwaukee Code of Ordinances, as repealed and recreated in Common Council File No. 980530, and if such funds are paid from franchise fee revenues received by the City under the Renewal Agreement; and, be it Further Resolved, That the Comptroller is therefore authorized and directed to determine the feasibility and fiscal appropriateness of the issuance of revenue bonds (Access Bonds), to be secured by franchise fee revenues received by the City under the Renewal Agreement, sufficient to generate a $1.5 million City Grant to the cable access manager; and, be it Further Resolved, That the Comptroller is directed to report to provide the Common Council with a written report on the feasibility of such bond issuance by March 1, 2000; and, be it Further Resolved, That, if the Comptroller finds that such bond issuance is not feasible, the Comptroller is directed to recommend to the Common Council another means by which to provide a $1.5 million grant to the access manager with the grant funds provided from franchise fee revenues received by the City under the Renewal Agreement, such recommendation to be provided by March 1, 2000.
ZDPT:
DFTR:
99436-2
CW
12/7/99