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Article: New Mexico county, city will co-finance share of new prisons.(Lee County, New Mexico; Hobbs, New Mexico)
- Article from:
- The Bond Buyer
- Article date:
- September 11, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Lee County, N.M., and the city of Hobbs have passed a resolution to work together to finance their part of a planned $140 million New Mexico prison project.
The resolution marks the first step toward the issuance of $140 million in bonds to pay for two new prisons, one in Hobbs and the other in the city of Santa Rosa.
It has not yet been decided whether the debt will be sold directly by the localities or through the New Mexico Finance Authority.
"We will play some part in the financing, though exactly (what role) is unclear," said Tom Pollard, the Finance Authority's executive director.
Santa Rosa, where the smaller prison will be located, will ...
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