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Article: Spat over size of New Mexico jail cells holds up $133 million in prison debt.
- Article from:
- The Bond Buyer
- Article date:
- November 2, 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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A dispute over the size of jail cells has stalled the sale of $133 million of bonds for a prison expansion program in New Mexico.
Last week a judge overseeing a prison overcrowding case set a 30-day mediation session in which the state and others will attempt to agree on a size for prison cells.
The size of prison cells would affect the amount of bond financing needed to build the prisons. The initial court order called for two prisoners per 120-square-foot cell, but state officials want to cut that to two prisoners for an 80-square-foot cell.
In early October, officials said they had a financing plan requiring three bond issues. Proceeds were to fund ...