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Rio Rancho council reauthorizes $25M utility bond, accepts clean FY2025 audit and expands early voting
Summary
On Feb. 14, 2025, the Rio Rancho City Council approved on first reading a reauthorization of $25 million in water and wastewater utility revenue bonds, accepted a FY2025 audit with no findings, and received a city manager update that expands early voting locations and hours.
Rio Rancho’s City Council on Feb. 14 authorized on first reading a reauthorization of $25,000,000 in water and wastewater utility revenue bonds and voted to accept a clean fiscal year 2025 audit, while city staff announced expanded early voting opportunities.
Mayor (unnamed) introduced Ordinance O‑1, which amends and restates ordinance number 26 (enactment 25‑21) to reauthorize issuance of $25,000,000 in utility revenue bonds, series 2026, to fund capital improvement projects in the water utility. Director Yara told the council the reauthorization was necessary because the prior approval had lapsed; the city intends to issue the bonds in two tranches and, if market conditions permit,…
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