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| SPONSOR: | Lopez | DATE TYPED: | 02/04/99 | HB | |||
| SHORT TITLE: | NMFA Loan Authorization Revocations | SB | 81 | ||||
| ANALYST: | L. Kehoe | ||||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY99 | FY2000 | FY99 | FY2000 | ||
| NFI | NFI | NFI | NFI | N/A | N/A |
(Parenthesis ( ) Indicate Expenditure Decreases)
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY99 | FY2000 | |||
| NFI | NFI | NFI | N/A | N/A |
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
New Mexico Finance Authority (NMFA)
SUMMARY
Synopsis of Bill
Senate Bill 81 revokes authorization for the NMFA to make loans from the Public Project Revolving Fund for projects that no longer viable or need funding.
Significant Issues
Senate Bill 81deauthorizes 13 projects for 12 different qualified entities statewide. The approximate dollar value of the project to be deauthorized is $36,015,000.
According to NMFA, each qualified entity has been contacted in writing and it has been confirmed that the governmental entity and/or applicant agrees to have their proposed project deleted from legislative authorization.
If Senate Bill 81 does not pass, the projects will remain on the legislative authorized projects list, and the NMFA's capacity will appear to be lower.
The entities and projects to be deauthorized include the following:
City of Albuquerque Computer Equipment $ 250,000
Alpine Village Water Project 400,000
City of Aztec Electrical Distribution System 900,000
Dona County Juvenile/Adult Facilities 24,885,000
Village of Ft. Sumner Wastewater Project 150,000
City of Grants Business Industrial Park 500,000
City of Las Cruces Wastewater Project 2,100,000
Lincoln County Solid Solid Waste Project 1,630,000
Waste Authority
Village of Milan Wastewater Project 100,000
San Juan County Hospital Project 1,500,000
Santa Fe County Parking Facility 3,300,000
City of T or C Scraper Truck 300,000
$ 36,015,000
FISCAL IMPLICATIONS
While the deauthorization does not have a fiscal impact to the state general fund, it does increase the NMFA's capacity to consider other loan applications.
LMK/njw