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City officials agree to financing plan for Burlington Telecom - WCAX.COM Local Vermont News, Weather and Sports-

City officials agree to financing plan for Burlington Telecom

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BURLINGTON, Vt. -

The city has agreed to terms regarding $6 million in interim financing for the utility from Vermont businessman Trey Pecor and Vermont-based Merchant's Bank.

Mayor Weinberger says the financing is critical to dismissing a $33 million claim against the city.

The financing is also seen as a key measure in Burlington's push to find a private buyer for the utility.

The Public Service Board still needs to approve the plan.

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