Bell
The City Council has approved a three-year, $5,000 loan at 10% interest to provide start-up funds for the Bell-Cudahy Cable TV Commission.
The two cities set up the commission in order to “get a better deal in awarding a cable television franchise” than if they had acted separately, Bell City Administrator Byron Woosley said.
The Cudahy City Council is expected to consider approval of a similar loan at its Monday meeting. The loans will help the commission hire a consultant and pay legal fees and advertising costs, Woosley said.
The commission will collect a percentage of the cable company’s gross revenue, splitting the proceeds between the two cities and repaying the loans, he said.
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