Intel seeks 8 billion in bonds to back Rio Rancho plant
Intel officials seek up to 8 billion in Industrial Revenue Bonds from Sandoval County to back refitting the Rio Rancho facility and funding a major upgrade. The plan would not use bonds for the high school but would strengthen jobs and production, with 200 new positions yearly and 4,200 current workers. The county faces no liability if Intel cannot repay and bonds would be privately placed with Synchoquartz, a subsidiary of Intel.
MENTIONED IN THIS ARTICLE
Jay P. Tharinger
Rio Rancho
Sandoval County
Intel
Rio Rancho Public Schools
Irbs
Synchoquartz
U.S
New Mexico
Lawmakers question Intel 8 billion tax bonds for Rio Rancho high school
State legislators in a Legislative Finance Committee meeting expressed concerns about Intel's proposed 8 billion in tax free IRBs to fund a Rio Rancho high school. They debated property tax losses, county partnerships, and the need for cost analyses by UNM and the county. County officials cited Intel driven growth and higher tax revenues as justification.
MENTIONED IN THIS ARTICLE
Genie Blair Ryan
Rio Rancho
Intel
Legislative Finance Committee
Manny Aragon
Joe Carrara
Sandoval
Joe Lang
Max Coll
D-Santa Fe
Anid
Springfest Draws Thousands to Rio Rancho Event in Haynes Park
Pleasant springlike weather highlighted the Rio Rancho Chamber of Commerce Springfest held in Haynes Park. Thousands attended the weekend celebration of West Side lifestyles, with carnival rides drawing crowds and a photo page planned for page B-1.
MENTIONED IN THIS ARTICLE
Rio Rancho Chamber of Commerce
Haynes Park
West Side
Nave R d
Rio Rancho Council OKs Utility Purchase Bonds at 6.05%
The Rio Rancho City Council approved issuing 79.98 million dollars in revenue bonds to acquire United Water New Mexico, formerly Rio Rancho Utilities Corp. The team secured a low 6.05 percent rate, one of the lowest in months, saving the city millions in interest. Timing helped as rates later rose to 6.2 percent. Mayor Tom Swisblack hailed the savings and pledged keeping water and sewer rates low.
MENTIONED IN THIS ARTICLE
Jay P. Tharinger
Rio Rancho
United Water New Mexico
Rio Rancho Utilities Corp
Tom Swisblack
Swisstack
Funding secured for Coors interchange project
Rio Rancho Mayor Tom Swisstack and State Rep. Vince Martinez announced that the State Highway Commission has authorized 200000 more dollars to Albuquerque, adding to 100000 already earmarked for the NM 528 Coors Bypass interchange. The project will connect NM 528 west of Ellison Drive to Coors Boulevard near Calabacillas Arroyo to ease traffic.
MENTIONED IN THIS ARTICLE
Jay P. Tharlinger
NM 528
Coors
Rio Rancho
Tom Swisstack
Vince Martinez
State Highway Commission
Albuquerque
Swisstack
Coors Boulevard
Ellison Drive
Calabacillas Arroyo
Alameda Road
IRBs debated as tool for growth in New Mexico
Critics call IRBs a government giveaway though supporters see them as economic development tools. Rio Rancho’s Intel requests 8 billion in property tax free IRBs amid a prior 2 billion grant. If approved, the bonds would fund Intel upgrades and Rio Rancho’s first high school while Intel pays annual rent to the county.
MENTIONED IN THIS ARTICLE
Jay P. Tharinger
Rio Rancho
Intel Corp
Sandoval County
Intel
New Mexico
Also Mentioned on This Page
Shannon Robinson
Disney World
Lang
Debbie Hays
Hays
Vince Mar Unez
University of New Mexico
IRB
Privates
Cae
Rey Eee
Tharinger
Council
Mark Lautman
Cine
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