House Journal: Page 1749: Thursday, May 1, 2003
22 ownership of the network. The state also expects to
23 obtain sufficient proceeds from such a sale to cover
24 existing obligations and to realize additional
25 proceeds above the level of such obligations. Given
26 the current depressed state of the telecommunications
27 industry, the state can reasonably be expected to
28 maximize sales proceeds by allowing a purchaser a
29 period of time in which to assemble financing for its
30 purchase. During the interim between enactment of
31 this division of this Act and completion of a sale,
32 the services of a private-enterprise manager with
33 experience operating telecommunications networks can
34 reasonably be expected to reduce the costs of
35 operating the Iowa communications network, thereby
36 lowering or possibly eliminating annual
37 appropriations.
38 2. DEFINITIONS. As used in this division of this
39 Act, unless the context otherwise requires:
40 a. "Board" means the state network privatization
41 board.
42 b. "Commission" means the Iowa telecommunications
43 and technology commission established in section 8D.3
44 to oversee the operations of the network.
45 c. "Management contract" means an agreement
46 between the board and the manager for services to
47 oversee and operate the network on behalf of the
48 state.
49 d. "Manager" means the private entity selected by
50 the board to oversee and operate the network on behalf
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1 of the state.
2 e. "Network" means the Iowa or state
3 communications network as defined in section 8D.2.
4 f. "Out-of-pocket expenses" means moneys paid to
5 an unaffiliated third party for engineering, legal,
6 consulting, or other services or goods by a manager or
7 purchaser.
8 g. "Purchaser" means the entity that is selected
9 by the board to purchase the network from the state.
10 h. "Required third-party approval" means any
11 consent, conveyance, approval, or waiver that must be
12 granted by a private, governmental, or quasi-
13 governmental third party in order for the purchaser to
14 receive clear title to all network assets and the
15 right to use the network assets free of adverse
16 claims. Required third-party approvals include but
17 are not limited to all of the following:
18 (1) Approvals of assignments to the purchaser of
19 the state's rights under leases or contracts between
20 the state and the third party.
© 2003 Cornell College and
League of Women Voters of Iowa
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