A New Home For TCPD

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After reviewing several funding options August 9, Truth or Consequences (T-or-C) City Commissioners agreed to pursue a New Mexico Finance Authority (NMFA) loan offer and proceed with development of a Law Enforcement Complex on municipal property formerly housing the National Guard Armory.
George K. Baum & Company representative Mark Valenzuela presented commissioners with three primary funding options, the NMFA proposal, a dual proposal from BBVA Compass bank and an option to sell development bonds on the public market.
In outlining the offers, Valenzuela said his firm was recommending the NMFA proposal, primarily due to the opportunity to secure an approximate 1.93-percent interest rate over a proposed 25-year plan.
While this option would require the city to maintain a reserve equivalent to a projected annual payment, Valenzuela said the total cost including interest and related service fees would tally to approximately $2.78 million. He pointed out that this represented only a modest increase over the construction estimate of $2.18 million for the 25-year agreement.

EB Town Hall Airs Out SDR Offer

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Elephant Butte city councilors were joined by a large contingent of community residents for a special town hall meeting Wednesday afternoon, March 8. Filling the city’s community center to capacity, the crowd was on hand to learn more and to share their views about a proposal, which could allow the city to acquire the Sierra del Rio (SDR) golf course.
After welcoming everyone to the session, mayor Eunice Kent offered a presentation highlighting the history and other details about the proposal from Turtleback Mountain Partners (TMP). The mayor’s presentation also examined impacts the city might realize by either accepting, or refusing the offer.