Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Rio Rancho staff propose $32 million revenue bond to finance Unser Boulevard widening and Fire Station 8
Summary
City staff proposed issuing a $32 million revenue bond, pledged to state-shared gross receipts tax, to fund $16.2 million toward Unser Boulevard phase 2B and $13.7 million toward Fire Station 8; staff outlined timelines, additional federal and state grants, and scheduled ordinance readings in March and a bond sale in April.
City of Rio Rancho staff on the governing body’s work session presented a plan to issue a $32 million revenue bond to finance two capital projects: the Unser Boulevard widening (phase 2B) and construction of Fire Station 8.
The proposal matters because it would use a limited-obligation revenue bond — pledged to a portion of the state-shared gross receipts tax — to fund major transportation and public-safety projects without a voter referendum; staff said the governing body’s approval is required to proceed.
Director Jaramillo opened the presentation by describing staff’s proposal and the difference between general obligation bonds and revenue bonds. Staff said the revenue bond would not require voter approval and would be secured by a pledged revenue source; staff identified the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
