posted March 14, 2008
EPB remains on hold on a $220 million bond isue that would pay for the city-owned utility to get into the cable TV business and develop a "smart grid".
EPB President Harold DePriest said the uncertainty of the current municipal bond market and the still-pending lawsuit brought by the state cable association is causing the delay.
Mr. DePriest said, "We are sitting on it right now. We are sort of on a teeter totter watching the market go up and down. It changed by eight tenths of a percent in one 24-hour period recently. That is enough to be a $2 million difference for us."
He also said the cable suit "was meant to cause us turmoil, which it has."
The EPB board met in closed session on Friday morning with attorneys from Baker, Donelson and Chambliss, Bahner on the matter.
Mr. DePriest said there is a hearing set March 28 in Nashville before Chancellor Ellen Lyle and EPB might get at least a partial ruling then - if not before.
He said both sides have filed a series of motions with the chancellor.
Meanwhile, EPB officials said a new survey confirms they are on the right track with the cable TV venture.
The survey says the Verizon FIOS fiber system is tops for Internet, TV and phone service. Joe Ferguson, EPB board chairman, said the agency will use the same system.
The survey shows EPB rival Comcast well below the fiber ratings, Mr. Ferguson pointed out.
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