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Commission hears pricing report on $2.5 million Grant County general obligation bonds
Summary
County bond counsel reported the final pricing terms of a $2,500,000 general obligation bond sale to the New Mexico Finance Authority; the county manager said the structure stays within parameters set by prior ordinance and will not raise property tax rates.
Grant County commissioners received a report on the pricing of the county's general obligation bond sale on April 24, 2025, after the bonds were priced April 11. Luis Carrasco, bond counsel with Rodey Law Firm, told the commission the bonds were priced at par for $2,500,000 and that the true interest cost was 3.023182% per annum.
The pricing certificate attached to the April 11 sale sets the bonds to mature on Sept. 1 of each year beginning 2025, with a final maturity scheduled no later than Sept.…
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