By DAVID BORAKS
The Mooresville- and Davidson-owned MI-Connection Communications System will continue to need big cash infusions from the two towns over the next several years to cover payments on its massive debt, the system’s board acknowledged in a letter to state officials last week.
In new financial projections that the system describes as “conservative,” the board says it will need a total of nearly $17 million from the towns in fiscal 2011, 2012 and 2013. That includes an already-budgeted $6.46 million this year and new estimates of $5.89 million next year, and $4.51 million in two years. Read the full story