> B) Abandon the lines completely, and then slowly pay off the bonds over
> the next 10 years

In this case, a number of bonds would default--and that would result in
a large number of lawsuits against Provo City--not a very desirable
option, because it doesn't really solve the financial problem.  And when
I say "abandon the lines completely" I mean that the city simply keeps
the open access model--but has to legally withdraw themselves from any
responsibility or administration over them, and fire all the employees
that maintain and setup the infrastructure (which they've had to do some
of anyway).  

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