$400 Million Tran Deal Will Keep New Mexico Liquid

Williamson, Richard
June 2003
Bond Buyer;6/25/2003, Vol. 344 Issue 31664, p4
Trade Publication
New Mexico Treasurer Robert Vigil believes this week's $400 million sale of tax and revenue anticipation notes may be the most important issue since 1997, when the state began using Trans to smooth seasonal revenue flows. Among the biggest changes were reductions in the top levels of the state income tax rates and lower capital gains taxes designed to lure business to New Mexico. Governor Bill Richardson's has reached for the controls of the state's investment policy to an unprecedented degree through his creation of the Governor's Finance Council, a 12-member board that will provide recommendations on how New Mexico should alter its bond programs and investment strategy. The council will be co-chaired by his chief of staff, Dave Contarino, and David Harris, the executive director of the New Mexico Finance Authority.


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