The New Mexico Legislature has passed a Senate capital improvement bill that will provide almost $140 million for more than 70 projects across the state.
The effort includes 65 projects financed with $134 million of bonds supported by revenues from the state’s oil and gas severance taxes, and eight projects financed with $5.9 million from the general fund.
A similar House measures shifts funds from already-approved capital projects to new ones. More than 500 reauthorizations of earlier capital appropriations are included.
Projects financed by the bills include an $800,000 renovation of the University of New Mexico’s sports arena known as the Pit, $5 million for new school buses, $1 million for athletic facilities at New Mexico State University, and $1.4 million for infrastructure redevelopment in downtown Tucumcari.
