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The city already sold the network once for $40 million, which didn't apply to the bond taken to build the network, and then got stuck with it again when Veracit
by ktsmith 13y ago
The city already sold the network once for $40 million, which didn't apply to the bond taken to build the network, and then got stuck with it again when Veracity folded. The sale to Google isn't so much a gift as it is a chance to not default on the bond (in theory) and get the service actually running. We can argue over it being anti-competitive but it doesn't appear that there were a lot of companies chomping at the bit to get this network due to the terrible state it was in.