Jackson County’s Revolving Loan Fund board Monday (Nov. 28) voted to recommend a $289,000 loan to jump start a local radio station.
RLF board members are also all commissioners, effectively green-lighting the loan, and Commissioners’ Chairman Jack Debnam said he believes commissioners will probably approve funding the loan. ...
As collateral for the loan, Burnette pledged the license he hopes to obtain from the FCC, itself, which he valued at anywhere from one to three times the annual billing, meaning it could be worth as much as $750,000, he said. ...Read the full article