Tennessee Sen. Mae Beavers, R-Mt. JulietNASHVILLE – The publisher of the Macon County Chronicle in court documents is disputing assertions made by Sen. Mae Beavers, R-Mount Juliet, that she owes the lawmaker principal and interest on a $50,000 loan used to purchase the newspaper.
Rather, Kathryne Belle allges in her Wilson County Chancery Court response there was no loan and that Beavers had joined an investors group and “invested” the money in the newspaper on May 26, 2010.
“This investment was funded through a cashier’s check issued by Cedarstone Bank, payable to Main Street Media LLC from Choice Community Newspapers LLC,” Belle’s attorneys state in their response, filed today.
“Co-plaintiff Mae Beavers delivered said cashier’s check to Defendant Belle for the specific purpose of investing in the venture and to make payment of the May 21, 2010 installment [payment] due to Main Street Media for purchase of the Macon County Chronicle,” the filing says.
It also alleges that Lou Ann Zelnick, a Republican who made a failed 2010 GOP 6th Congressional District primary bid, “invested” $36,000 in the newspaper venture as well.