After reviewing details surrounding the proposed issuance of municipal revenue bonds to construct a new law enforcement complex September 13, Truth or Consequences (T-or-C) city commissioners joined in unanimous support of a motion to approve the measure (Ordinance No. 686). This action will now allow the sale of $2,188,146 in municipal gross receipt tax revenue bonds and effectively green lights the T-or-C Police Department’s plan to renovate the former National Guard Armory building for a new department headquarters and regional law enforcement offices.
Prior to the action, commissioners conducted a public hearing to accept final citizen comments.
During their introduction of the measure acting bond council Linda Melendres and George K. Baum associate Raheel Hirji affirmed the bonds being issued would mature in 2042 and would include a 1.91-percent interest rate throughout the loan term. Hirji further noted the proposal included a 10-year call in 2027