Public given chance to purchase county bonds

A portion of the upcoming sale of Los Alamos County’s Gross Receipts Tax Revenue bonds will be available for purchase by residents in the near future.

Chief Financial Officer Steven Lynne told County Council Tuesday evening that community members have been calling the county asking to buy some of the $71.5 million in debt proceeds needed to complete the county’s Capitol Improvement Projects (CIP).

The dollar amount of bonds available to the public has yet to be determined.

Lynne briefed council during Tuesday’s meeting in the White Rock Town Hall on the steps the county will go through during the next few months in order to issue debt to finance its Capital Improvement Program (CIP), which include the following projects:

Airport Basin Site;

Judicial/Police/Jail Complex;

Diamond Drive Phases 3 and 4; and

West Jemez Bypass and intersection.

The eventual plan for specific use of the bond proceeds may change based upon the status of each project, he said, and would be reflected in the updated CIP presented to council for final approval before the sale.

Independent financial advisor services have been procured by the county through Kevin Powers of RBC Capital Markets.

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