Article: New Mexico county asked to borrow $8 billion for Intel.(Sandoval County, New Mexico, industrial development revenue bonds for Intel Corp.)

RIO RANCHO, N.M. - Intel Corp. is hoping Sandoval County, N.M., will approve what would probably be the largest industrial development revenue bond package ever - $8 billion to help the company update computer chip- making plants.

The high-tech giant, which has a $1.8 billion chip facility in the county, wants Sandoval to sign off on the private placement at its county commissioner's meeting next month. Intel, the state's largest corporate taxpayer, is seeking the funds as part of a deal to secure a $480 million property and gross receipts sales tax abatement from the county.

Debbie Hays, Sandoval County manager, said yesterday she supports the issue and ...

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