Los Alamos County authorizes up to $40 million in GRT bonds to finance broadband buildout
Loading...
Summary
The county council unanimously approved Resolution No. 26‑06 on Feb. 17, 2026, authorizing up to $40 million in gross‑receipts‑tax improvement revenue bonds to fund a planned county broadband system; officials said pricing is expected Feb. 25 with a final sale March 10 and estimated borrowing costs of about 3.8–4%.
The Los Alamos County Council on Feb. 17 adopted a resolution authorizing the issuance of gross‑receipts‑tax improvement revenue bonds not to exceed $40,000,000 to finance the county’s planned broadband community system and other public facilities.
Administrative Services staff summarized the bond resolution and accompanying preliminary official statement, saying the county anticipates posting the preliminary offering the day after the meeting, pricing the bonds on Feb. 25 and closing the sale March 10. Staff noted Los Alamos County’s high credit ratings from S&P and Moody’s and estimated an interest cost in the approximately 3.8–4% range.
“Because CPI has come down and demand for tax‑exempt munis is strong, we do not anticipate issues with the sale,” said the Administrative Services director, who presented the item to council.
Councilor Henn moved adoption of Resolution No. 26‑06 and the motion was seconded; the measure passed on a 7–0 roll‑call vote.
Why it matters: the bond proceeds are primarily intended to finance construction of the county’s broadband network, a multi‑year capital project that county staff said will support community connectivity and other public infrastructure. Staff framed the borrowing as consistent with an earlier ordinance adopted Nov. 18, 2025, and said the county’s financial position and ratings support favorable terms.
Details and next steps: if approved, staff will finalize pricing and the official statement; the county plans to complete the final sale on March 10. Staff said final pricing, exact interest rates and the bond underwriting details will be set at pricing and included in the final official statement.
The council’s action was procedural and financial; no members asked for substantive changes to the bond authorization during the hearing. Public comment on the item was not offered online or in chambers.
