The group that will enter its bid to acquire Burlington Telecom as a member-owned cooperative is inviting the public to the first official meeting since its recent incorporation filing. The meeting will take place at 11 am on Saturday, April 6 at the Champlain Elementary School on Pine Street in Burlington.
The general public is invited to the meeting, where updates, status reports and current plans will be presented. Memberships will also be processed, by-laws adopted, and nominations for the organizing board directors will be accepted.
Upon payment of a small, first installment toward their equity share in the Co-op, members will be able to vote on by-laws and other governance matters. So far, about 400 individuals and businesses have made equity share and loan pledges, reaching over halfway toward the Co-op's initial goal of $500,000.
With efforts by the City under way to resolve BT's legal problems with CitiBank, it is the group's intention to have strong membership commitment, professional and technical expertise and sound financial planning in place once those efforts have achieved a settlement. With that, the Co-op's negotiations with the City of Burlington and petitioning to the Public Service Board can begin in an effort to take over BT.
Co-op launches to buy Burlington Telecom
Submitted by tim
on