State economists estimate nearly $500
million is available to finance capital improvement projects across
The
Legislative Finance Committee was told Monday the state can issue bonds backed
by severance taxes to provide about $222 million for new capital projects,
which will be determined by the Legislature and Gov. Susana Martinez next year
when lawmakers meet in a 60-day legislative session.
State law earmarks about
$175 million in bond financing for public school improvements and $33 million must
go for water projects. Nearly $34 million of available financing must be used
for tribal infrastructure and capital improvements in colonias.
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