LCPS finance team and RBC outline plan for final bond tranche; taxable sale recommended and veteran exemptions may affect future capacity

Las Cruces Public Schools received a finance plan update April 1 from Eric Harrigan of RBC Capital Markets outlining the district’s remaining bond authority, options for sale, and the potential budgetary effect of recent changes to veteran property exemptions.

Harrigan reported the district’s tax base has grown roughly 25% over the last four years, enabling the district to keep the existing tax rate while increasing authorization. The district has approximately $128 million in general obligation bonds outstanding and additional lease‑purchase obligations that count against legal capacity; total outstanding debt counted against capacity is about $147 million. With the proposed issuance the district would reach about $160 million outstanding against a legal capacity that is approximately 6% of tax base (roughly $280 million), leaving…