DALLAS - New Mexico will sell about $219 million of severance tax bonds by competitive bid today to finance scores of projects throughout the state.

The annual deal encompasses capital spending authorized by the Legislature's recent session and follows a schedule that has become fairly predictable over the years. The State Board of Finance has developed the structure for the issue with financial advisers Fiscal Strategies Group Inc. of Swarthmore, Pa., and Public Resources Advisory Group of Los Angeles. Bond counsel Sutin, Thayer & Browne has certified the debt as tax-exempt.

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