ALBUQUERQUE, N.M. (AP) – It’ll be up to New Mexico voters to approve more than $186 million in general obligation bonds to support everything from senior citizen centers and schools to the construction of a new state crime lab.
Supporters say the funding is key to completing brick and mortar projects as New Mexico struggles with a budget crisis that has forced lawmakers and Gov. Susana Martinez to curb spending.
If voters approve all four bonds on the ballot this year, finance officials estimate that property owners would pay $9.34 annually on each $100,000 of a property’s assessed value to pay for the bonds over the next decade. It’s the same amount assessed to property owners in 2015.
The largest of the bonds would fund construction projects at colleges and universities around the state.