Board authorizes up to $385M in severance‑tax bonds for legislatively approved projects
The State Board of Finance adopted an authorizing and delegating resolution for up to $385,000,000 in Series 2026A severance‑tax bonds, with maturities no later than July 1, 2036, and a maximum true interest cost of 5%. Counsel said the bonds fund legislatively appropriated capital projects and set parameters for public competitive sale.
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Bond counsel Luis Casco told the board the authorizing resolution for the State of New Mexico severance‑tax bonds, Series 2026A, authorizes a public competitive sale with a maximum principal of $385,000,000, maturities not to exceed 07/01/2036, and a true interest cost cap of 5%. "These bonds are a series of long term bonds customarily issued by this body to fund legislatively appropriated projects," Casco said.
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