Conduit and Other Bonds Issued by NMFA
The New Mexico Finance Authority is from time to time authorized by legislation to issue revenue bonds to finance projects outside of the Public Project Revolving Fund program (PPRF) and the New Mexico Department of Transportation GRIP program (GRIP). For these bonds, classified as conduit and other bonds, the credit risk is with the underlying borrower and with the underlying revenue source and not with the Finance Authority. These bonds are individually rated by the rating agencies (Agency Reports). While some projects may require specific legislation to be able to be financed through bonds issued by the Finance Authority, other projects may be eligible under more general legislation promoting job growth in New Mexico. Check with Finance Authority staff.
Examples of conduit bonds that have been issued by the Finance Authority include:
- Cigarette Tax Revenues Bonds for the University of New Mexico Health Sciences Center
- Court Facilities Fee Revenue Bonds for the Bernalillo County Metropolitan Court Building
- State Office Building Tax Revenue Bonds for the State’s General Services Department
- Worker’s Compensation Administration Building Revenue Bonds
Conduit bond rating information (Rating Agency Reports & Letters) are available.