Thirsty New Mexico Funnels Bond Authority to Water Projects

Williamson, Richard
June 2003
Bond Buyer;6/16/2003, Vol. 344 Issue 31657, p5
Trade Publication
Amid a prolonged drought that prompted New Mexico governor Bill Richardson to issue the second emergency declaration in as many years, the state has begun directing more of its bond authority toward unfunded water projects. Estimating the cost of needed water projects in the state at $4 billion, David Harris, executive director of the New Mexico Finance Authority, told the Legislature earlier in 2003 that the state needs to do a better job of marshaling financial resources to improve water supplies. Under House Bill 882, recently signed into law, New Mexico will use 10% of its severance tax bond issuance for water projects ranging from conservation to development of new supplies.


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