<PAGE> 1
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
(x) Quarterly report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the quarterly period ended June 30, 1994
( ) Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from _______________ to ______________
Commission File Number: 0-15714
Jones Cable Income Fund 1-C
- - --------------------------------------------------------------------------------
Exact name of registrant as specified in charter
Colorado 84-1010419
- - --------------------------------------------------------------------------------
State of organization I.R.S. employer I.D.#
9697 East Mineral Avenue, P.O. Box 3309, Englewood, Colorado 80155-3309
------------------------------------------------------------------------
Address of principal executive office
(303) 792-3111
-----------------------------
Registrant's telephone number
Indicate by check mark whether the registrant (l) has filed all reports
required to be filed by Section l3 or l5(d) of the Securities Exchange Act of
l934 during the preceding l2 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes X No
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JONES CABLE INCOME FUND 1-C
(A Limited Partnership)
UNAUDITED CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
June 30, December 31,
1994 1993
------------- --------------
<S> <C> <C>
ASSETS
------
CASH $ 169,613 $ 118,807
TRADE RECEIVABLES, less allowance for doubtful receivables
of $55,378 and $42,088 at June 30, 1994 and December 31, 1993,
respectively 416,277 432,048
INVESTMENT IN CABLE TELEVISION PROPERTIES:
Property, plant and equipment, at cost 55,321,416 53,105,367
Less-accumulated depreciation (22,812,220) (20,804,731)
------------- --------------
32,509,196 32,300,636
Franchise costs, net of accumulated amortization of $21,510,869 and
$19,814,129 at June 30, 1994 and December 31, 1993, respectively 15,082,921 16,779,661
Subscriber lists, net of accumulated amortization of $5,985,612 and
$5,506,482 at June 30, 1994 and December 31, 1993, respectively 1,388,548 1,867,678
Cost in excess of interests in net assets purchased, net of
accumulated amortization of $1,129,262 and $1,039,340 at June 30, 1994
and December 31, 1993, respectively 6,062,758 6,152,680
Noncompete agreement, net of accumulated amortization of $215,806 and
$201,388 at June 30, 1994 and December 31, 1993, respectively 122,494 136,912
------------- --------------
Total investment in cable television properties 55,165,917 57,237,567
DEPOSITS, PREPAID EXPENSES AND DEFERRED CHARGES 466,752 360,412
------------- --------------
Total assets $ 56,218,559 $ 58,148,834
============= ==============
</TABLE>
The accompanying notes to unaudited consolidated financial statements
are an integral part of these consolidated balance sheets.
2
<PAGE> 3
JONES CABLE INCOME FUND 1-C
(A Limited Partnership)
UNAUDITED CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
June 30, December 31,
1994 1993
------------ ------------
<S> <C> <C>
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
- - -------------------------------------------
LIABILITIES:
Debt $ 41,986,453 $ 36,298,318
Accounts payable-
Trade 109,339 36,832
General Partner - 4,068,472
Accrued liabilities 1,127,992 1,325,909
Accrued distribution to limited partners - 650,500
Accrued distribution to Venture partner - 429,500
Subscriber prepayments 267,215 265,589
------------ ------------
Total liabilities 43,490,999 43,075,120
------------ ------------
MINORITY INTEREST IN JOINT VENTURE 5,103,192 6,036,257
------------ ------------
PARTNERS' CAPITAL (DEFICIT):
General Partner-
Contributed capital 1,000 1,000
Accumulated deficit (165,772) (151,641)
Distributions (113,443) (113,443)
------------ ------------
(278,215) (264,084)
------------ ------------
Limited Partners-
Net contributed capital (85,059 units outstanding at
June 30, 1994 and December 31, 1993) 34,909,262 34,909,262
Accumulated deficit (14,639,033) (13,240,075)
Distributions (12,367,646) (12,367,646)
------------ ------------
7,902,583 9,301,541
------------ ------------
Total liabilities and partners' capital (deficit) $ 56,218,559 $ 58,148,834
============ ============
</TABLE>
The accompanying notes to unaudited consolidated financial statements
are an integral part of these consolidated balance sheets.
3
<PAGE> 4
JONES CABLE INCOME FUND 1-C
(A Limited Partnership)
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
<TABLE>
<CAPTION>
For the Three Months Ended For the Six Months Ended
June 30, June 30,
-------------------------------- -----------------------------
1994 1993 1994 1993
----------- ---------- ----------- -----------
<S> <C> <C> <C> <C>
REVENUES $ 5,312,929 $5,162,952 $10,492,177 $10,059,800
COSTS AND EXPENSES:
Operating, general and administrative 2,927,227 2,761,245 5,933,130 5,628,568
Management fees and allocated overhead
from General Partner 668,441 630,688 1,346,795 1,244,465
Depreciation and amortization 2,144,934 2,112,347 4,318,763 4,383,040
----------- ---------- ----------- -----------
OPERATING LOSS (427,673) (341,328) (1,106,511) (1,196,273)
----------- ---------- ----------- -----------
OTHER INCOME (EXPENSE):
Interest expense (644,246) (486,808) (1,210,217) (971,499)
Other, net (31,804) 786 (29,426) 4,277
----------- ---------- ----------- -----------
Total other income (expense), net (676,050) (486,022) (1,239,643) (967,222)
----------- ---------- ----------- -----------
CONSOLIDATED LOSS (1,103,723) (827,350) (2,346,154) (2,163,495)
MINORITY INTEREST IN
CONSOLIDATED LOSS 438,950 329,037 933,065 860,422
----------- ---------- ----------- -----------
NET LOSS $ (664,773) $ (498,313) $(1,413,089) $(1,303,073)
=========== ========== =========== ===========
ALLOCATION OF NET LOSS:
General Partner $ (6,648) $ (4,983) $ (14,131) $ (13,031)
=========== ========== =========== ===========
Limited Partners $ (658,125) $ (493,330) $(1,398,958) $(1,290,042)
=========== ========== =========== ===========
NET LOSS PER LIMITED
PARTNERSHIP UNIT $ (7.74) $ (5.80) $ (16.45) $ (15.17)
=========== ========== =========== ===========
WEIGHTED AVERAGE NUMBER
OF LIMITED PARTNERSHIP
UNITS OUTSTANDING 85,059 85,059 85,059 85,059
=========== ========== =========== ===========
</TABLE>
The accompanying notes to unaudited consolidated financial statements
are an integral part of these consolidated statements.
4
<PAGE> 5
JONES CABLE INCOME FUND 1-C
(A Limited Partnership)
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>
For the Six Months Ended
June 30,
-------------------------------
1994 1993
------------ -----------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (1,413,089) $(1,303,073)
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities:
Depreciation and amortization 4,318,763 4,383,040
Minority interest in net loss (933,065) (860,422)
Decrease in accrued distribution to Cable Television
Joint Venture (429,500) -
Distribution to Cable Television Joint Venturer (859,000)
Amortization of interest rate protection contract 24,250 24,251
Decrease (increase) in trade receivables 15,771 (72,864)
Decrease in deposits, prepaid expenses
and deferred charges (161,654) 111,749
Decrease in accounts payable, accrued liabilities
and subscriber prepayments (123,784) (180,997)
Increase (decrease) in advances from General Partner (4,068,472) 1,146,041
------------ -----------
Net cash provided by (used in) operating activities (2,770,780) 2,388,725
------------ -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net (2,216,049) (1,656,316)
------------ -----------
Net cash used in investing activities (2,216,049) (1,656,316)
------------ -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings 5,769,120 634,245
Repayment of debt (80,985) (59,632)
Distributions to limited partners - (1,301,000)
Decrease in accrued distributions to limited partners (650,500) -
Purchase of interest rate protection contracts - (145,500)
------------ -----------
Net cash provided by (used in) financing activities 5,037,635 (871,887)
------------ -----------
Increase (decrease) in cash 50,806 (139,478)
Cash, beginning of period 118,807 235,037
------------ -----------
Cash, end of period $ 169,613 $ 95,559
============ ===========
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid $ 1,292,447 $ 1,962,699
============ ===========
</TABLE>
The accompanying notes to unaudited consolidated financial statements
are an integral part of these consolidated statements.
5
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JONES CABLE INCOME FUND 1-C
(A Limited Partnership)
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
(1) This Form 10-Q is being filed in conformity with the SEC requirements
for unaudited financial statements and does not contain all of the necessary
footnote disclosures required for a fair presentation of the Balance Sheets and
Statements of Operations and Cash Flows in conformity with generally accepted
accounting principles. However, in the opinion of management, this data
includes all adjustments, consisting only of normal recurring accruals,
necessary to present fairly the financial position of Jones Cable Income Fund
1-C (the "Partnership") at June 30, 1994 and December 31, 1993 and its
Statements of Operations and Cash Flows for the three and six month periods
ended June 30, 1993. Results of operations for these periods are not
necessarily indicative of results to be expected for the full year.
The accompanying financial statements include 100 percent of the
accounts of the Partnership and those of the Brighton, Broomfield and Boulder
County, Colorado, Myrtle Creek, Oregon, Lake County, California, South Sioux
City, Nebraska, and Three Rivers and Watervliet, Michigan cable television
systems reduced by the approximate 40 percent minority interest in Jones Cable
Income Fund 1-B/C Venture (the "Venture"). All interpartnership accounts and
transactions have been eliminated.
(2) Jones Intercable, Inc., a publicly held Colorado corporation ("the
General Partner"), manages the Partnership and the Venture and receives a fee
for its services equal to 5 percent of the gross revenues of the Venture,
excluding revenues from the sale of cable television systems or franchises.
Management fees for the three and six month periods ended June 30, 1994 were
$265,646 and $524,609, respectively, as compared to $258,148 and $502,990,
respectively, for the similar 1993 periods.
The Venture reimburses the General Partner for certain allocated
overhead and administrative expenses. These expenses represent the salaries
and related benefits paid for corporate personnel, rent, data processing
services and other corporate facilities costs. Such personnel provide
engineering, marketing, administrative, accounting, legal and investor
relations services to the Partnership. Allocations of personnel costs are
based primarily on actual time spent by employees of the General Partner with
respect to each partnership managed. Remaining overhead costs are allocated
based on revenues and/or assets managed for the partnership. Effective
December 1, 1993, the allocation method was changed to be based only on
revenue, which the General Partner believes provides a more accurate method of
allocation. Systems owned by the General Partner and all other systems owned
by partnerships for which Jones Intercable, Inc. is the general partner are
also allocated a proportionate share of these expenses. The General Partner
believes that the methodology used in allocating overhead and administrative
expenses is reasonable. Overhead and administrative expenses allocated to the
Venture by the General Partner for the three and six month periods ended June
30, 1994 were $402,795 and $822,186, respectively as compared to $372,540 and
$741,474, respectively, for the similar 1993 periods.
6
<PAGE> 7
JONES CABLE INCOME FUND 1-C
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
FINANCIAL CONDITION
The Partnership owns an approximate 60 percent interest in the
Venture. The accompanying financial statements include 100 percent of the
accounts of the Partnership and those of the Venture systems reduced by the 40
percent minority interest in the Venture.
During the first six months of 1994, capital improvements within the
Venture's operating systems totalled approximately $2,200,000. Approximately
28 percent of these expenditures related to rebuilding and upgrading the
Venture's Systems, and approximately 21 percent was for service drops to homes.
Approximately 12 percent of these expenditures were for plant extensions. The
remainder of these expenditures related to various enhancements in all of the
Venture's systems. Funding for these improvements was provided by cash
generated from operations and borrowings from the Venture's credit facility.
Anticipated capital expenditures for the remainder of 1994 are approximately
$2,375,000. System upgrades and rebuilds are expected to account for
approximately 49 percent of the expenditures, and plant extensions are expected
to account for approximately 23 percent of the capital expenditures. Service
drops to homes will account for approximately 23 percent. The remainder of the
expenditures will relate to various enhancements in the Venture's systems. The
level of capital expenditures will depend, in part, upon the General Partner's
determination as to the proper scope and timing of such expenditures in light
of the 1992 Cable Act and the Venture's liquidity position. Funding for these
expenditures is expected to be provided by cash generated from operations and
borrowings under the Venture's credit facility.
In May 1994, the Venture completed negotiation of its credit facility
to increase the maximum amount available to $45,000,000 and to extend the
revolving credit period to June 30, 1997, at which time the outstanding balance
is payable in full. At June 30, 1994, $41,700,000 was outstanding on the
Venture's credit facility. Interest on outstanding principal is calculated at
the Venture's option of the prime rate plus 1/2 percent, or LIBOR plus 1-1/2
percent. The effective interest rates on amounts outstanding as of June 30 ,
1994 and 1993 were 6.16 percent and 4.48 percent, respectively. In January of
1993, the Venture entered into an interest rate cap agreement covering
outstanding debt obligations of $15,000,000. The Venture paid a fee of
$145,500. The agreement protects the Venture from interest rates that exceed 7
percent for three years from the date of the agreement.
Due to the regulatory matters discussed below, and to the Venture's
borrowing limitation of 45 percent of the fair market value of its assets, no
distribution was declared for the second quarter of 1994. The Venture will use
cash flow from operations to fund capital expenditures. Although the General
Partner does not expect to resume distributions in the near term, a
determination of the level of distributions, if any, will be made on a quarter
by quarter basis.
Subject to regulatory matters discussed below, the General Partner
believes that the Venture has sufficient sources of capital to meet its
anticipated needs.
Regulatory Matters
Congress enacted the Cable Television Consumer Protection and
Competition Act of 1992 (the "1992 Cable Act"), which became effective on
December 4, 1992. This legislation has caused significant changes to the
regulatory environment in which the cable television industry operates. The
1992 Cable Act generally allows for a greater degree of regulation of the cable
television industry. Under the 1992 Cable Act's definition of effective
competition, nearly all cable
7
<PAGE> 8
television systems in the United States, including those owned and managed by
the Partnership, are subject to rate regulation of basic cable services. In
addition, the 1992 Cable Act allows the FCC to regulate rates for non-basic
service tiers other than premium services in response to complaints filed by
franchising authorities and/or cable subscribers. In April 1993, the FCC
adopted regulations governing rates for basic and non-basic services. The
FCC's rules became effective on September 1, 1993.
In compliance with these rules, the Partnership reduced rates charged
for certain regulated services effective September 1, 1993. These reductions
resulted in some decrease in revenues and operating income before depreciation
and amortization, however the decrease was not as severe as originally
anticipated. The General Partner has undertaken actions to mitigate a portion
of these reductions primarily through (a) new service offerings in some
systems, (b) product re-marketing and re-packaging and (c) marketing efforts
directed at non-subscribers.
On February 22, 1994, the FCC adopted several additional rate orders
including an order which revised its earlier-announced regulatory scheme with
respect to rates. The FCC's new regulations will generally require rate
reductions, absent a successful cost-of-service showing, of 17 percent of
September 30, 1992 rates, adjusted for inflation, channel modifications,
equipment costs, and increases in programming costs. However the FCC held rate
reductions in abeyance in certain systems. The new regulations became
effective on May 15, 1994, but operators could elect to defer rate reductions
to July 14, 1994, so long as they made no change in their rates and did not
restructure service offerings between May 15 and July 14.
On February 22, 1994, the FCC also adopted interim cost-of-service
regulations. Rate reductions will not be required where it is successfully
demonstrated that rates for basic and other regulated programming services are
justified and reasonable using cost-of-service standards. The FCC established
an interim industry-wide 11.25 percent permitted rate of return, and requested
comments on whether this standard and other interim cost-of-service standards
should be made permanent. The FCC also established a presumption that
acquisition costs above a system's book value should be excluded from the rate
base, but the FCC will consider individual showings to rebut this presumption.
The need for special rate relief will also be considered by the FCC if an
operator demonstrates that the rates set by a cost-of-service proceeding would
constitute confiscation of investment, and that, absent a higher rate, the
credit necessary to operate and to attract investment could not be maintained.
The FCC will establish a uniform system of accounts for operators that elect
cost-of-service rate regulation, and the FCC has adopted affiliate transaction
regulations. The FCC also proposed adopting a productivity factor to be offset
against future inflation increases to be applied regardless of which form of
regulation is used, cost of service or benchmark regulation. After a rate has
been set pursuant to a cost-of-service showing, rate increases for regulated
services will be indexed for inflation, and operators will also be permitted to
increase rates in response to increases in costs beyond their control, such as
taxes and increased programming costs.
The Venture has elected to file cost-of-service showings in the
Brighton and Broomfield, Colorado, Myrtle Creek, Oregon, South Sioux City,
Nebraska and Three Rivers, Michigan systems. The Venture complied with the new
benchmark regulations and reduced rates in its Clearlake Oaks, California
system. The annualized reduction of operating income before depreciation and
amortization is $130,000, or approximately 2 percent, in the system that has
reduced rates. In the systems electing cost-of-service, the General Partner
anticipates no further reduction in revenues or operating income before
depreciation and amortization. The Venture will continue its efforts to
mitigate the effect of such rate reductions.
8
<PAGE> 9
There have been several lawsuits filed by cable operators and
programmers in Federal court challenging various aspects of the 1992 Cable Act,
including provisions relating to mandatory broadcast signal carriage,
retransmission consent, access to cable programming, rate regulations,
commercial leased channels and public access channels. On April 8, 1993, a
three-judge Federal district court panel issued a decision upholding the
constitutionality of the mandatory signal carriage requirements of the 1992
Cable Act. That decision was appealed directly to the United States Supreme
Court. The United States Supreme Court vacated the lower court decision on
June 27, 1994 and remanded the case to the district court for further
development of a factual record. The Court's majority determined that the
must-carry rules were content neutral, but that it was not yet proven that the
rules were needed to preserve the economic health of the broadcasting industry.
In the interim, the must-carry rules will remain in place during the pendency
of the proceedings in district court. In 1993, a Federal district court for
the District of Columbia upheld provisions of the 1992 Cable Act concerning
rate regulation, retransmission consent, restrictions on vertically integrated
cable television operators and programmers, mandatory carriage of programming
on commercial leased channels and public, educational and governmental access
channels and the exemption for municipalities from civil damage liability
arising out of local regulation of cable services. The 1992 Cable Act's
provisions providing for multiple ownership limits for cable operators and
advance notice of free previews for certain programming services have been
found unconstitutional, and these decisions have been appealed. In November
1993, the United States Court of Appeals for the District of Columbia held that
the FCC's regulations implemented pursuant to Section 10 of the 1992 Cable Act,
which permit cable operators to ban indecent programming on public, educational
or governmental access channels or leased access channels, were
unconstitutional, but the court has agreed to reconsider its decision. All of
these decisions construing provisions of the 1992 Cable Act and the FCC's
implementing regulations have been or are expected to be appealed.
RESULTS OF OPERATIONS
Revenues of the Venture increased $149,977, or approximately 3
percent, from $5,162,952 to $5,312,929 for the three months ended June 30, 1993
as compared to 1994. For the six month periods ended June 30, 1993 and 1994,
revenues increased $432,377, or approximately 4 percent, from $10,059,800 at
June 30, 1993 to $10,492,177 at June 30, 1994. Since June 30, 1993, the
Venture has added 3,696 basic subscribers representing an increase of
approximately 6 percent. Basic subscribers increased from 57,198 at June 30,
1993 to 60,894 at June 30, 1994. This increase in the subscriber base
accounted for approximately 62 percent and 80 percent, respectively, of the
three and six month increases in revenues. Increases in advertising sales
revenue accounted for approximately 29 percent and 18 percent, respectively, of
the three and six month increases in revenues. No other single factor
significantly affected the three and six month increases in revenues.
The increase in revenue would have been greater but for the reduction in
certain rates charged due to new basic rate regulations issued by the FCC in
May 1993 with which the Venture complied effective September 1, 1993.
Operating, general and administrative expense increased $165,982, or
approximately 6 percent, from $2,761,245 to $2,927,227 for the three months
ended June 30, 1994. For the six months ended June 30, 1994 and 1993,
operating, general and administrative expense increased $304,562, or
approximately 5 percent, from $5,628,568 at June 30, 1993 to $5,933,130 at June
30, 1994. Operating, general and administrative expense represented 55 percent
and 57 percent, respectively, of revenue for the three and six month periods
ended June 30, 1994 compared to 53 percent and 56 percent, respectively, for
the similar periods in 1993. Increased programming fees accounted for
approximately 65 percent and 52 percent, respectively, of the increases for the
three and six month periods. Approximately 22 percent of both the three and
six month increase in expense was due to advertising sales expenses. No other
individual factors were significant to the increases in operating, general and
administrative expenses. Management fees and allocated overhead from the
General Partner increased $37,753, or approximately 6 percent, from $630,688 to
$668,441 for the three months ended June 30, 1994 as compared to 1993. For the
six months ended June 30, 1994 and 1993, management fees and allocated overhead
from the General Partner increased $102,330, or approximately 8 percent, from
$1,244,465 at June 30, 1993 to $1,346,795 at June 30, 1994. These increases
are due to the increases in revenues, upon which such fees and allocations are
based, and an increase in expenses allocated from the General Partner. The
General Partner has experienced increases in expenses, including personnel
costs and reregulation costs. Depreciation and amortization expense increased
$32,587, or approximately 2 percent, from $2,112,347 to $2,141,934 for the
three months ended June 30, 1994 as compared to 1993, due to capital additions
in 1993. For the six months ended June 30, 1994 and 1993, depreciation and
amortization expense decreased $64,277, or approximately 1 percent, from
$4,383,040 at June 30, 1993 to $4,318,763 at June 30, 1994. This decrease is
due to the maturation of the Venture's depreciable asset base.
9
<PAGE> 10
Operating loss increased $86,345, or approximately 25 percent, from
$341,328 to $427,673 for the three months ended June 30, 1994. This increase
is a result of the increases in operating, general and administrative expense,
management fees and allocated overhead from the General Partner, exceeding the
increase in revenues. Operating loss for the six months ended June 30, 1994
and 1993 decreased $89,762, or approximately 8 percent, from $1,196,273 to
$1,106,511 for the six months ended June 30, 1994. This decrease is a result
of the increase in revenues and the decrease in amortization and depreciation
expense exceeding the increases in operating, general and administrative
expense, management fees and allocated overhead from the General Partner.
Operating income before depreciation and amortization decreased $53,758, or
approximately 3 percent, from $1,771,019 for the three months ended June 30,
1993 to $1,717,261 for the comparable 1994 period, due to the increases in
operating general and administrative expense and mangement fees and allocated
overhead from the General Partner exceeding the increase in revenue. For the
six month periods, operating income before depreciation and amortization
increased $25,485, or approximately 1 percent, from $3,186,767 in 1993 to
$3,212,252 in 1994, due to the increase in revenues exceeding the increases in
operating, general and administrative expense and management fees and allocated
overhead from the General Partner.
Interest expense increased $157,438, or approximately 32 percent, from
$486,808 to $644,246 for the three months ended June 30, 1994 as compared to
1993. For the six months ended June 30, 1994 and 1993, interest expense
increased $238,718, or approximately 25 percent, from $971,499 in 1993 to
$1,210,217 in 1994. This increase was due to higher effective interest rates
on interest bearing obligations and to higher outstanding balances on interest
bearing obligations.
Net loss increased $166,460, or approximately 33 percent for the three
month periods from $498,313 in 1993 to $664,773 in 1994. For the six month
periods, consolidated loss increased $110,016, or approximately 8 percent, from
$1,303,073 in 1993 to $1,413,089 in 1994. These increases are attributable to
the factors discussed above and are expected to continue.
10
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Part II - OTHER INFORMATION
NONE
11
<PAGE> 12
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
JONES CABLE INCOME FUND 1-C
BY: JONES INTERCABLE, INC.
General Partner
By: /s/ KEVIN P. COYLE
Kevin P. Coyle
Group Vice President/Finance
(Principal Financial Officer)
Dated: August 11, 1994
12
