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District finance advisers outline $65 million bond capacity and urge HB 33 extension; veterans tax exemptions could affect future capacity
Summary
District finance staff and RBC Capital Markets told the board the district could seek about $65 million in a future bond authorization while maintaining the current debt-service rate, but recent veterans’ property-tax exemption amendments could change future capacity once implemented by the legislature.
Las Crues Public Schools finance staff and outside municipal advisors outlined the district’s bonding capacity and recommended asking voters for roughly $65 million authorization in the next general-obligation bond election, while continuing a longstanding $4.61 debt-service tax rate.
Eric Harrigan of RBC Capital Markets and CFO Alex Lu told the board the district’s net taxable value has grown in recent years — nearly 7% in the most recent year — which increased practical borrowing capacity. Harrigan said LCPS currently has about $147 million in outstanding bonds and lease-purchase obligations and a statutory capacity (6% of assessed valuation) that would allow…
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