Council to consider ordinance for $40 million in GRT revenue bonds

The Los Alamos County Council will hold a public hearing on Ordinance No. 750 s part of its Council meeting on Tuesday, Nov. 18, at 6 p.m. in Council Chambers, 1000 Central Ave. The ordinance, if adopted, would authorize issuing up to $40 million in Gross Receipts Tax (GRT) Improvement Revenue Bonds to help fund the Community Broadband Network and other public facility improvements.

The bonds would be repaid entirely from existing gross receipts tax revenues already distributed to the County. No new tax would be pledged.

County Administrative Services Director Helen Perraglio recorded a video explaining the proposed GRT revenue bond issuance. County Broadband Manager Jerry Smith recorded a companion video outlining the Community Broadband Network project.

The ordinance would delegate authority to the Council Chair and County Manager to approve final bond terms at the time of pricing and authorize preparation of the preliminary official statement expected to come before Council in early 2026. The County intends to market the bonds in February 2026.

Design work for the countywide, open-access fiber network (Community Broadband Network) is underway following Council’s approval last year of the design-build contract. Construction is expected to begin in the summer 2026, with a phased rollout over three to four years. The network will operate as an open-access system, meaning the County will own the infrastructure, a vendor will maintain and operate it, while multiple private internet service providers (ISPs) will be able to offer service over the same fiber lines. This approach promotes competition, supports affordable pricing and gives residents options for reliable, high-speed broadband service.

Debt service for the proposed bonds, which are expected to have a 25-year final maturity, has already been incorporated into the FY2026 budget and long-range financial projections.

Residents are encouraged to attend the hearing and provide comment in person or via Zoom. Written comments can also be submitted online through the eComment tool beginning Nov. 14, when the agenda is published. Comments submitted through the eComment tool will be accepted until noon on Nov. 18.