The city of Monticello, Minnesota has stopped making payments toward $26 million in bonds that were used for constructing a new broadband project that was managed by Winona's Hiawatha Broadband Communications.
Minnesota Public Radio is reporting Monticello officials notified the bondholders of the decision on Monday. Last Friday HBC announced it was dissolving its partnership with Monticello and relocating HBC's manager to Winona.
MPR says Monticello has been involved in a heated battle with private Internet and cable providers competing for the same customers. HBC was managing the city's system known as FiberNet.