Key points of sale of iProvo

• Broadweave will buy the iProvo network for $40.6 million and assume the remainder of Provo's bonds and almost all of the city's other related financial obligations.

• Broadweave will lease the Network Operation Center from the city.

• Broadweave will provide dedicated capacity for government agencies such as city, school and county facilities for $300,000 per year.

• Broadweave will interview and consider any interested city telecommunication employee for employment. The city will attempt to assimilate remaining telecom employees where possible and will assist others with outplacement services.

• The parties will close the transaction by June 30.