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SPONSOR: |
Papen |
DATE TYPED: |
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HB |
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SHORT TITLE: |
Private Sale of Local Bonds to NMFA |
SB |
117 |
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ANALYST: |
L. Kehoe |
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APPROPRIATION
Appropriation
Contained |
Estimated
Additional Impact |
Recurring or
Non-Rec |
Fund Affected |
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FY03 |
FY04 |
FY03 |
FY04 |
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NFI |
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(Parenthesis
( ) Indicate Expenditure Decreases)
SUMMARY
Synopsis
of Bill
Senate Bill 117 authorizes NMFA to issue bonds
in the form of a loan agreement to municipalities, counties and school
districts that would otherwise have to issue general obligation bonds.
Significant
Issues
According to NMFA, Senate Bill 117 will save a
county, municipality or school district the costs incurred by the issuance of
bonds. However, all legal restrictions
and requirements concerning general obligation debt would be left in place.