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...
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