New Mexico

The New Mexico Finance Authority "over-emphasized and under-prioritized the importance of bond credit ratings," in a "culture of complacency" that led to a fraudulent audit, according to an investigative report from the New Mexico Securities Agency.

An estimated $1.65 billion of industrial revenue bonds to link the nation's three major power grids will bear the name of Clovis, N.M., but the town will carry no risk if the project falters, officials say.

The New Mexico Transportation Commission will detour the wreckage of the New Mexico Finance Authority with $215 million of refunding bonds.

Voters in Santa Fe County N.M. gave approval margins of 60% to three GO bond proposals totaling $38 million.

With $21 million of bond issues planned over the next two years, Artesia, N.M., is considering its options for taking that debt to market after Standard & Poor’s withdrew its ratings following a failed audit.

Voters in Santa Fe County, N.M. will decide on a three-part, $35 million general obligation bond referendum.

Standard & Poor's removed New Mexico Finance Authority's AAA rating from watch list for a downgrade but maintains a negative outlook in the wake of a phony audit.

Moody's extended its watch list period for a possible downgrade of the New Mexico Finance Authority as the agency continues to investigate a phony audit.

Santa Fe, N.M. will issue sales tax bonds to renovate a building for municipal offices and bypass a loan from the troubled New Mexico Finance Authority.

A grand jury indicted the former controller for the New Mexico Finance Authority, Gregory M. Campbell, on charges of submitting a forged audit and circulating it to bond investors.

The New Mexico Finance Authority voted to pay its interim CEO through March 2013, while its permanent CEO is on paid administrative leave.

State revenues in fiscal 2014 are expected to total $5.9 billion, up $272 million from fiscal 2013 collections, according to a new fiscal forecast outlined last week to the Legislative Finance Committee.

The New Mexico Finance Authority board held another emergency meeting Thursday after its chief operating officer and former controller were arrested in connection with a fake audit that brought agency debt issuance to a halt.

Standard & Poor's on Wednesday placed New Mexico Finance Authority's triple-A rating on its watch list for a possible downgrade in the wake of disclosure's that the authority's most recent audit was phony.

New Mexico ended fiscal 2012 with $250 million of higher-than-expected revenues, bringing the state's total ending reserve balance to almost $750 million.

The New Mexico Finance Authority met in an emergency session Monday after learning that a phony audit had been used in statements to bond investors.

New Mexico Finance Secretary Tom Clifford last week suspended two Sunland Park officials and took over their duties after a special state audit found widespread municipal fraud and the misuse of city funds.

DALLAS — Albuquerque took its lofty credit ratings to market Monday in a competitive deal to raise $78.8 million for projects in New Mexico’s largest city.

DALLAS — Standard & Poor's has lowered its rating on the Albuquerque Bernalillo County Water Utility Authority's revenue bonds one notch to AA-plus with a stable outlook.

DALLAS - Former New Mexico investment officer Gary Bland is seeking $1.25 million from the State Investment Council in a lawsuit that claims he was damaged by claims of corruption.