SANTA FE, N.M. — New Mexico officials are revisiting their bonds repayment plan after learning that some bonds cannot be repaid early.
The Santa Fe New Mexican reports (http://bit.ly/2wC1SYz ) Gov. Susana Martinez has scheduled an emergency meeting with state Board of Finance for Friday to figure out how they will pay the appropriate interest on bonds that are typically protected from being paid off in full within 10 years from the date they were purchased.
The original $154 million refinancing plan had been approved at the board’s June 20 meeting in a 5-0 vote. Spokeswoman Julia Ruetten with the Department of Finances and Administration, which oversees the board, could not answer questions on the refunding and its impacts on Wednesday.
Information from: The Santa Fe New Mexican, http://www.sfnewmexican.com