Bond Question 1Bond (state borrowing)
Senior facilities bonds
Explain it like I'm 5
This lets New Mexico borrow money to improve places and equipment used by older adults. It is like taking a loan to repair a community center and paying it back over time with property taxes.
Yes vote
The state may issue up to $30 million in general obligation bonds for senior citizen facility projects.
No vote
The state may not issue these bonds under this authorization.
The question to ask yourself
Are senior-facility improvements worth using statewide property-tax-backed debt?
The case for
- Funds repairs and equipment for senior facilities statewide.
- Spreads the cost of long-lasting improvements over time.
- Can help communities that lack local funding.
Backed by: No organized campaign found
The case against
- Debt may fund vehicles and equipment that wear out before repayment ends.
- Interest makes the total cost higher than the amount borrowed.
- Property owners statewide repay the debt, even when benefits vary locally.
Opposed by: New Mexico Business Coalition
- Money
- Up to $30 million in state borrowing, repaid through the existing statewide property tax for general obligation bonds; the per-household cost was not estimated in the sources we checked.
- Don't be misled
- Calling it cost-free is misleading, because keeping the tax rate flat still uses tax capacity to repay new debt.