DavidsonNews.Net went and got copies of the letters between the state Local Government Commission — which approved the public expenditure of $92m. to buy a beat-up CATV system — and M-I Connection.
And surprise, the cable system letter reveals that subscriber assumptions the towns made were wholly unrealistic — over 8 percent growth a year. Instead, the subscriber base is shrinking, down to around 15K, although M-I has decided that precise info is proprietary. (Although M-I is also claiming it does not have to pay $400K in state sales tax because it is publicly owned via the towns. Pick one, folks.)
M-I also told the LGC that it did not know how much it would cost to operate the system because it had not operated the system before. I kid you not.
Bottomline, the taxpayers of Davidson and Mooresville are going to paying for this thing for years.
