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Where I live there is fibre optic cabling to residences with data transmission speeds similar to that of 5G. Recently, the company that owns the infrastructure has had their multimillion dollar loan from the local municipalitly recalled on short notice. Can’t help but think this is to roll out 5G by bankrupting the better alternative. My entire premise for arguing against 5G in my community was based on the fact that there was fibre optic installed – back to the drawing board!
Craig:
That is very ugly. I wonder if the company has an anti-trust or fraudulent inducement case. Unlikely if the truth be known that this is legal.
What was the reason the town called the loan? Need to know more about loan terms and conditions and what exactly gave the town the right to call and why they said they called.
In a situation involving any significant resources, public officials are required to give an explanation as to why this legally can be done and why it is in the public interest to do it. If they are going to take over, they have to be able to publish a plan on how it will be run and why that is in the interests of citizens and tax payers. All of the contracts and agreements past and future should be available upon request and FOIA – including past finances and budgets and pro forma future budgets.
Where I live there is fibre optic cabling to residences with data transmission speeds similar to that of 5G. Recently, the company that owns the infrastructure has had their multimillion dollar loan from the local municipalitly recalled on short notice. Can’t help but think this is to roll out 5G by bankrupting the better alternative. My entire premise for arguing against 5G in my community was based on the fact that there was fibre optic installed – back to the drawing board!
Craig:
That is very ugly. I wonder if the company has an anti-trust or fraudulent inducement case. Unlikely if the truth be known that this is legal.
What was the reason the town called the loan? Need to know more about loan terms and conditions and what exactly gave the town the right to call and why they said they called.
In a situation involving any significant resources, public officials are required to give an explanation as to why this legally can be done and why it is in the public interest to do it. If they are going to take over, they have to be able to publish a plan on how it will be run and why that is in the interests of citizens and tax payers. All of the contracts and agreements past and future should be available upon request and FOIA – including past finances and budgets and pro forma future budgets.
Where I live there is fibre optic cabling to residences with data transmission speeds similar to that of 5G. Recently, the company that owns the infrastructure has had their multimillion dollar loan from the local municipalitly recalled on short notice. Can’t help but think this is to roll out 5G by bankrupting the better alternative. My entire premise for arguing against 5G in my community was based on the fact that there was fibre optic installed – back to the drawing board!
Craig:
That is very ugly. I wonder if the company has an anti-trust or fraudulent inducement case. Unlikely if the truth be known that this is legal.
Catherine
Notice given was 5 days to repay a $ 14 million loan. Should you be interested in the explanation for recalling the loan: https://www.mountainviewtoday.ca/olds-news/olds-institute-signs-initial-loan-repayment-agreement-with-town-of-olds-2400782 My hope is that this info is useful to those that have fibre optic capacity in their community, and can learn from this experience. Interesting that the company claims that they never missed a payment…
What was the reason the town called the loan? Need to know more about loan terms and conditions and what exactly gave the town the right to call and why they said they called.
Right you are. I neglected to mention that the explanation was to have greater oversight. Makes no sense to me. Have read about federal money being offered to build out 5G in rural Canada. Offering little reason for pulling the loan on fibre optics makes me question the explanation. https://www.mountainviewtoday.ca/olds-news/town-calls-on-olds-institute-to-repay-14-million-loan-2375717.
In a situation involving any significant resources, public officials are required to give an explanation as to why this legally can be done and why it is in the public interest to do it. If they are going to take over, they have to be able to publish a plan on how it will be run and why that is in the interests of citizens and tax payers. All of the contracts and agreements past and future should be available upon request and FOIA – including past finances and budgets and pro forma future budgets.