LEXINGTON, Ky. (AP) – Private companies building a 3,000-mile high-speed internet network in Kentucky are warning the project will fall apart if state lawmakers don’t provide funding for it as part of the two-year operating budge.
State lawmakers sent the spending plan to Republican Gov. Matt Bevin last week. It does not include money needed to fund the project for the next two years, but it does give Bevin the authority to make the payments from the state’s savings account or a surplus, if there is one.
Kentucky Wired Operations Co. CEO Robert Morphonios said if the payments stop, the project would end and taxpayers would be obligated to pay off a loan of hundreds of millions of dollars.
Republican Sen. Chris McDaniel said lawmakers are frustrated with the project’s delays and would likely not fund it.