By Kevin Hendricks, The Paper.
Rio Rancho’s Governing Body gave final approval Thursday to the sale of $18 million in voter-approved general obligation bonds, clearing the way for road reconstruction, public safety equipment and quality-of-life upgrades across the city.
The council voted unanimously to adopt Ordinance 6 on second reading, authorizing the bond issuance. No members of the public signed up to speak on the item.
City staff told the council the bonds will not raise property taxes. Financial Services Director Stephanie Yara said the borrowing splits into three pots tied to the ballot questions voters decided in March: about $12.4 million for road projects, $4.4 million for public safety facilities and equipment, and $1.2 million for quality-of-life facilities.
The ordinance delegates authority to Mayor Paul Wymer, City Manager Matt Geisel and Yara to set the final sale method, maturity dates, interest rates and other terms in an award certificate.
Road money is earmarked for reconstruction on Baltic Avenue, Springer Drive, Ridgecrest Drive and Honduras Road, including utility line work tied to several of those projects.
Public safety funds cover 20 replacement police vehicles, a police headquarters roof repair, a mobile radio repeater, a replacement fire engine and a replacement ambulance.
Quality-of-life funds go toward Sports Complex skate park replacement, a Sugar Park play structure, library materials and an outdoor program space renovation at Esther Bone Memorial Library.
BY THE NUMBERS
Roads — $12.4 million
- Baltic Avenue (Lisbon Avenue to Southern Boulevard): $8.15 million, including water line replacement
- Springer Drive (Chayote Road to Santa Fe Hills Boulevard): $5.32 million, including sewer line relocation
- Ridgecrest Drive (High Resort Boulevard to NM 528): $6.03 million, including water line replacement
- Honduras Road (NM 528 to Riverside Drive): $1.95 million, including water line replacement
Public Safety — $4.4 million
- Police vehicle replacement (20 vehicles): $1.9 million
- Fire engine replacement: $1.3 million
- Rescue ambulance replacement: $540,000
- Police headquarters roof repair: $301,000
- Police mobile communication repeater: $35,000
Quality of Life — $1.2 million
- Sports Complex skate park replacement: $380,000
- Esther Bone Memorial Library outdoor space renovation: $311,400
- Library materials and digital subscriptions: $250,000
- Sugar Park play structure replacement: $180,000