Bill > HB145

This bill amends the existing law to increase the bonding authority of the New Mexico State Transportation Commission for highway projects. Specifically, the bill adds an additional $1.5 billion in bonding capacity, allowing the commission to issue more bonds for state highway projects while maintaining existing restrictions and guidelines. The bonds can be secured by federal funds, taxes, or fees paid into the state road fund, and must be approved by the state board of finance. The bill maintains previous provisions such as limiting individual bond series to a 25-year maturity, requiring competitive proposal processes for investment bankers and financial advisors, and specifying that the bonds are not a general obligation of the state. The legislation also continues to prioritize using materials from state lands when practicable for highway projects and ensures that the bonds can be sold through public or negotiated sales. The bill preserves protections for bondholders by preventing amendments to tax or fee structures that could impair outstanding bond obligations, and maintains the incontestable status of the bonds for bona fide purchasers.

Budget and Finance, Transportation and Infrastructure

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=145&year=25