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Rio Rancho board OKs resolution to place $80 million bond question on November ballot
Summary
The Rio Rancho Public Schools Board approved a resolution to place an $80 million general obligation bond question on the Nov. 4 ballot, keeping the district's current tax rate and allowing issuance in series over four years if voters approve.
The Rio Rancho Public Schools Board of Education voted June 23 to authorize placing an $80 million general obligation bond question on the Nov. 4 general election ballot.
The measure, presented by bond counsel Chris Muirhead and financial advisor Eric Harrigan of RBC Capital Markets, would allow the district to issue bonds in multiple series over a four-year period without increasing the district's current tax rate. "What we're recommending to the district, is to go back to voters this November for an additional 80,000,000," Eric Harrigan said during his presentation to the board.
The board's action was presented as a resolution and…
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