Nathan Gogo here with the weekend outlook: A chilly evening ahead for Saturday. Temps will fall into the mid 30's. Gradual clearing is on tap for Sunday with temperatures still cool with high's near 50.
TYLER (December 6, 2012)--A bankruptcy judge in East Texas has set a Jan. 14 sale date for the assets of Lon Morris College.
The oldest junior college in Texas filed for bankruptcy protection in July and on Wednesday a judge in Tyler agreed to allow a Dec. 13 auction date to be pushed back a month.
The judge also authorized the school to borrow as much as $500,000 to help pay auction fees, utilities, insurance and other administrative costs, but capped any initial loan at $150,000.
Fall classes were suspended at the 158-year-old United Methodist complex because U.S. law bars federal assistance for students at schools that file for bankruptcy.
The Texas attorney general's office is investigating how the college spent a $1.3 million endowment.
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