By Lucas High
LOVELAND — The Loveland City Council approved an ordinance this week to allow the city’s newly formed Electric and Communication Enterprise to issue bonds to fund a municipal broadband system. The enterprise, which aims to make fiber-optic internet service available to every home, business and school in Loveland, has been authorized to issue and sell $97 million in bonds, according to a Loveland news release. The bonding process is expected to take about 60 days from Dec. 18, the date when the bond issuance was granted preliminary approval by the city council. JP Morgan has been selected to serve as the senior managing underwriter for the bond issuance.