Payment Received on Fiber Optic Pact
SpectraNet International recently gave Anaheim officials a check for $113,861, the first of several payments to be made by the company for the use of the city’s fiber optic network.
Under an agreement approved earlier this year, SpectraNet will develop the network for use by businesses and residents. The network is expected to be available for Anaheim businesses this summer, providing such services as high-speed access to the Internet and voice, video and multimedia communications.
The San Diego company will make quarterly payments of $113,861 over a 30-year-period to lease the fibers. The city will also share in gross and net revenue with a minimum $1-million annual payment by early 1999.
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