Bill > HB275

This bill authorizes the New Mexico Finance Authority to issue and sell revenue bonds, which are a form of debt used to finance projects, for the Gila Regional Cancer Center at the Gila Regional Medical Center. Specifically, it allows for the issuance of up to $5,735,316 in revenue bonds to purchase equipment, computer hardware and software, and renovate rooms at the Gila Regional Cancer Center. The bill also clarifies that cigarette tax proceeds will be pledged to repay these bonds and associated expenses, and outlines procedures for ceasing these distributions once the bonds are fully paid. Additionally, it permits the New Mexico Finance Authority to use money from the public project revolving fund to secure or purchase these bonds, ensuring that any laws affecting cigarette taxes cannot be changed in a way that would jeopardize the repayment of these bonds.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=275&year=26