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Regular Council Meeting Minutes <br />3-15-10 <br />Page 19 <br />impressed by how cheap the internet alone would be after a cost for three years that is <br />honestly comparable to what they pay in the market for the internet services they get. <br />Mayor Rinker asked what the percentage would be. <br />Mr. Esborn replied, 45% of what they pay in the market. <br />Mayor Rinker stated, so the service is 45% cheaper and the hook-up is the question. <br />Mr. Esborn replied, right. As they pay back the lateral connection monthly, in this <br />scenario for three years they are paying what they would be paying the market but after it <br />goes three years, they drop down to paying about 45% of what they pay in the market <br />which is specifically what they have said is attractive. <br />Mayor Rinker asked, so it is my understanding that were this to pass you would take this <br />message back to Mayfran and say, sign? <br />Mr. Esborn replied, you understand that correctly. <br />Mayor Rinker asked who else has signed. <br />Mr. Esborn replied, QED is already a subscriber. He believes their connection was <br />installed over the weekend. They projected on Friday it was going to be in by today and <br />they will have service by the end of the week. <br />Council President Buckholtz asked, OneCommunity is non-profit, so they are financing <br />this, they are not charging for the payments being scheduled out? <br />Mr. Esborn replied, correct, there's no interest. <br />Council President Buckholtz stated basically what's happening is, in paperwork terms, we <br />are taking encumbered funds that were already going to be paid to OneCommunity and by <br />accelerating them, we just move the money to OneCommunity a little ahead of schedule <br />and they are using that to leverage people being able to come in earlier that perhaps could <br />not otherwise afford it. • <br />Mr. Esborn replied, right. <br />Mr. Saponaro said, we make the payment of $164,000, then we are reimbursed $75,000 <br />within 30 days of making that payment, roughly. Initially we were concerned because they <br />had loan-type language in there. It's certainly not loan-type language. They are calling it a <br />line of credit, but that's in quotes. It's just to your point an advancement to help these <br />folks get on line if you will, quicker and not have to bear such a great burden and there will <br />be an arrangement between Mayfran and the Village in terms of repayment in case