HomeMy WebLinkAboutResolution No. 054-23 - Resolution - License Transfer of Victoria's of Minnesota Inc. DBA Victoria's Restaurant
RESOLUTION
Approving the license transfer of Victoria’s of Minnesota Inc. DBA Victoria’s
Restaurant due to changes in ownership structure.
WHEREAS, Victoria’s of Minnesota Inc. DBA Victoria’s Restaurant (“the company”) was
previously owned by Mr. Ken Nuss with 32 percent control, Mr. Samuel Servin with 26
percent control, Mr. Sid Victoria with 16 percent control, Mrs. Natalie Victoria with 16 percent
control and Mr. Louis Savres with 10 percent control; and,
WHEREAS, Mr. Ken Nuss has divested his 32 percent interest in the company; and,
WHEREAS, Mr. Ken Nuss interest has been evenly split between Mr. Sid Victoria and Mrs.
Natalie Victoria; and,
WHEREAS, Mr. Sid Victoria now retains 32 percent control and Mrs. Natalie Victoria now
and controls 32 percent interest in the company; and,
WHERAS, Rochester Code of Ordinances 5-19-20 (a) does so stipulate that:
“…any change of ownership or beneficial interest in 25 percent or more of the shares of
stock in a corporate licensee shall be deemed equivalent to a transfer of the license and the
same shall not become effective until approved by the council.”
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Rochester
that the City does hereby approve an ownership transfer of the full intoxicating/ restaurant
& special Sunday liquor licenses for Victoria’s of Minnesota Inc. DBA Victoria’s Restaurant,
st
operating at 7 1 Ave SW Rochester MN 55902.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2023.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2023.
___________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)