Recognizing that broadband is critical infrastructure Ft Collins sold bonds to build a city run fiber network. The story is in the Coloradoan:
After several months of laying the groundwork for building and operating a new high-speed broadband network, the community recently celebrated two significant milestones in that process.
The bond sale closed June 14, and from that the city of Fort Collins received $142.2 million to fund the fiber system build-out.
Investors interested in backing the broadband network bought out $1,000 bonds sold through three official brokers in just two days. During a one-day advance “retail” sale, prior to institutional and investment banker access, Colorado investors purchased $5.7 million of the bonds — with local residents given priority via zip codes — and another $11.1 million was invested in the retail setting nationally. The remaining available bonds were purchased the next day by institutional and investment bankers.
The successful bond sale, local investment and high-quality credit ratings from two agencies further demonstrate both the public support and investor confidence in a city-run broadband service.
We also unveiled the brand at a recent community kick-off event. Based on the belief that community is built through connection, I’m thrilled to introduce Fort Collins Connexion, our community-driven and community-owned fiber network.
Connection means different things to different people within our community. It can be cutting-edge technology for think tanks or research labs, or the ability to work from home for a global organization. It can also mean providing high-speed access to entertainment or reliable, equitable access to family, friends and opportunity.
Rest of the Coloradoan.com story is HERE.