Harold DePriest, EPB president
EPB’s board of directors this morning approved a $230 million bond plan to finance a fiber-optic system that would serve as the backbone of residential communications service.
Next, the Chattanooga City Council must approve EPB’s plan. A hearing date has not been set.
The bond plan would finance the construction of a fiber-optic system to benefit the electric system, said EPB Chief Financial Officer Greg Eaves.
The fiber-to-the-home telecommunications service would be financed by loans from the electric system, he said. The board this morning gave its approval for the interdivisional loan, although the process has not been established yet, Mr. Eaves said.
The Tennessee Valley Authority, as EPB’s electric regulator, has approved EPB’s plan to offer cable, telephone and Internet service to residential customers, said EPB President Harold DePriest.
Read tomorrow’s Chattanooga Times Free Press for complete coverage.