Board finalizes SA/SB note lists; Office of Broadband certification for $10M noted
Counsel and staff finalized project lists for short‑term SA notes and supplemental SB notes, confirmed anticipated SA note pricing (~3.8% using SOFR + 15 bps), and said the Office of Broadband certified a $10,000,000 annual allocation for broadband projects.
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At the meeting the board reviewed amending resolutions that finalize the project lists for the Series 2026 SA notes and the supplemental severance tax SB notes. Counsel explained the SA notes will be privately sold (priced off SOFR) and that the SA1 portion includes allocations to the Water Trust Board, Colonias Infrastructure Board and the New Mexico Housing Trust Fund; staff estimated the combined SA1 and SA2 notes at about $710,406,000 within the previously authorized $850,000,000 cap.
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