The Virgin Islands Senate passed a broadband bonding bill that...
The Virgin Islands Senate passed a broadband bonding bill that authorizes the Virgin Islands Public Finance Authority to borrow up to $38.5 million to help fund the Broadband Expansion Project. The project will develop, improve and expand telecom services in…
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the Virgin Islands. They received four federal stimulus grants totaling $68 million, requiring a local match of 30 percent. The Senate in November passed legislation authorizing the Public Finance Authority to set up the Virgin Islands Next Generation Network as a wholly owned subsidiary to manage the broadband project. In February, Governor John deJongh proposed a bill to authorize the government to float a $42.5 million bond to cover the local match. The Senate changed the bonding ceiling to $38 million. DeJongh said he’s pleased to see the passage of the bill. “The completion of the middle mile in our territory’s broadband infrastructure will benefit all,” the Democrat said. “Once my staff and I have had the opportunity to review the effect of the amendments, I will be in a better position to discuss next steps for this legislation."