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Curry County authorizes $2 million NMED loan/grant package to support Texico water improvements
Summary
After a public hearing, the Curry County Commission directed staff to authorize a loan agreement with the New Mexico Environment Department for $1.5 million at 1% interest plus a $500,000 loan-subsidy grant to support water system work for the Town of Texico; commissioners flagged repayment risk if Texico defaults.
Curry County commissioners voted Jan. 14 to move forward with an ordinance authorizing the county to borrow $1.5 million at 1% interest and accept a $500,000 loan-subsidy grant from the New Mexico Environment Department (NMED) for water improvements in the Town of Texico.
The action followed a public hearing and presentations from county staff. Ben Roberts described the NMED package as a combined loan and grant “for the purpose of obtaining project loan funds” to support water funds and acquisitions for…
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