The City of Las Cruces held a series of public input meetings and opportunities to prepare projects for a General Obligation Bond election to be held in August. After hundreds participated in providing feedback through meetings or emails several projects were initially presented for a public survey and project scoping. Four bond questions have been proposed and can be viewed below. All of the projects have aspects addressing concerns from our citizens and each helps to meet the needs of our city.
If approved by City Council on June 4th, each voter living within the City of Las Cruces will have an opportunity to vote on the GO Bond via mail-in ballot before August 21st 2018.
Scroll down to learn more about the projects in each GO Bond question and see the public input that was obtained.View Survey Results
General Obligation (GO) Bonds are an important source of funding for basic capital improvements (bricks and mortar) that our growing community requires to thrive.
General Obligation Bonds are typically best suited for projects that benefit the general public but generate little or no revenue to pay debt service.
The following unfunded priority projects have emerged from the public input process and the City's Capital Improvement Process as candidates for GO Bond funding. Preliminary funding amounts are included for each project
This project creates a new stray animal and adoption center along with administration offices on the site of the existing facility.
This project replaces the existing Fire Station 3, a building constructed in 1967. The replacement would add response capacity of the station for increasing call demand.
This project focuses on upgrades to Citywide multi-use paths and trails, and implements aspects of the Mesilla Valley Metropolitan Planning Organization (MPO) plan:
A GO Bond is a form of debt financing secured by property tax revenue - General obligation bonds can be issued for general purpose projects. The law requires each specific project to be presented in a separate question for voter approval
State statute limits the amount of general obligation bonds issued by municipalities to 4% of total assessed valuation. The City of Las Cruces' current GO Bonding capacity is about $92 million.
No, Las Cruces currently has no GO Bond debt.
A GO Bond is typically paid back in 10 to 15 years with an interest rate based on the City's credit worthiness. A municipality can borrow at a better than private market rate.
Many communities issue and repay GO Bonds on a regular cycle - e.g. every 2 to 6 years. The City will evaluate the success of the upcoming election to determine the strategy for future elections.
The following table shows the yearly impact to a typical homeowner should voters approve a $35.6 million GO Bond that funds all of the proposed projects.
|Bond Size: Yearly Cost to a Typical Homeowner|
|Full Value||Assessed Value*||2.1 mills|
*Tax at 1/3 market valuation Median Home Value
February 15 to May 1, 2018 - Public Meetings and project vetting
May 4 - Final Ballot Information determined
June 4 - Council considers ballot approval
August 21 - Mail-in election for GO Bond
Yes. Las Cruces has a Capital Improvement Program (CIP) that is now primarily funded by revenue bonds. These are bonds issue against a regular source of revenue such as the City's share of the New Mexico Gross Receipts Tax (GRT). You can find information about the City's CIP program here, at the Office of Management and Budget site.
Depending on which GO Bond requests are approved, the City will prepare for one or several bond sales spaced out to minimize interest cost and match project needs. Tax rates would be adjusted after the sale of the bond(s), and property owners would see that increase on their next property tax bill (issued annually).
Send in your thoughts to email@example.com.
The next General Obligation Bond election is on August 21, 2018. It will be a mail-in ballot process.
The City of Las Cruces provides resources like this website to help you determine the issues and priorities that will be put to the community for a vote.
View a PDF presentation about the projects within the GO Bond.
Portable Document Format (PDF), 1 MB in size. Updated May 16, 2018.
The City welcomes your thoughts about the GO Bond and the implementation of its proposed projects.
You can provide input by attending a public meeting and emailing your suggestions to firstname.lastname@example.org.