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Campus News
Your faculty and staff news since 1965
Current Issue: October 14, 2002
Volume 38, Number 7

Bond issue B funds renewal, expansion
Election set for Nov. 5

Every two years New Mexicans have the opportunity to vote on an issue that impacts UNM and other colleges, universities and special schools throughout the state. On Nov. 5, citizens will once again have that opportunity.

In addition to providing capital funds for colleges and universities, General Obligation Bond Issue B will provide funds for the State Schools for the Deaf and for the Visually Handicapped, information technology, full-day kindergarten classrooms and funds to help meet the requirements of the Americans with Disabilities Act.

The $93 million Education Bond B provides funding for infrastructure, core building renewal and renovation and expansion of classroom and library space at many colleges, universities and state schools.

If passed, UNM and its branch campuses will receive $13.4 million from Bond B. This includes $6.95 million for infrastructure improvements at the main campus, and Gallup and Valencia campuses, $3 million for facility expansion at the Valencia and Taos campuses, $1.5 million for cleanroom equipment at the Manufacturing and Technology Training Center on main campus and $2 million for patient care equipment at the Health Sciences Center.

Bond B will be repaid by a property tax assessment of about 34 cents per $1,000 of a property’s taxable value. For example, the additional cost to the owner of a $100,000 home with a $33,000 taxable value will average $11.35 per year. The owner of a $50,000 home will pay approximately half that amount. These are estimates and retirement of older bonds can affect tax impact of new bonds.

Bond issues have been a traditional and reliable method for financing school improvements in New Mexico. Voters have
been supportive of the bond issue for education for the past
several years, said Dolores Gonzalez, UNM Advancement senior program manager.

KNME TV, Channel 5, will air a bond information show on Sunday, Nov. 3 at 2 p.m.