Northern New Mexico College will receive an influx of money for capital projects, thanks to a Nov. 4 voter-approved bond measure.
Sixty percent of voters approved Bond Question B on the Nov. 4 ballot. According to the ballot, the measure approves the issuance and sale of $141 million in general obligation bonds. The proceeds will be used for capital spending projects by various colleges and universities in the state.
The ballot also states money from the bonds will go toward tribal schools in the state for infrastructure spending.
The bonds are not new, but a reissuance the state already allotted. According to the ballot, the bonds will be paid through property taxes the state will collect from residents.
The rate is $1.36 per $1,000 in net taxable value. Property owners who own $200,000 worth of property can expect to pay approximately $300 in taxes for the year.
Northern administrators encouraged voters to pass the measure because the college expects to receive $2 million to upgrade many of the aging facilities they have. According to the College’s website, administrators will use the money to fund health and safety infrastructure projects.
The College’s website lists sidewalk additions and repairs, refurbishing aging and damaged campus roads and parking lots, asbestos abatement and roof repairs, installing or replacing aging, inefficient heating and cooling systems and water system and campus drainage improvements as some of the projects the money will fund.
During the July 17 Board meeting, Northern’s Vice President of Finance Domingo Sanchez said he wanted to renovate the college’s Administration Building and referred to the bond measure as a potential source for funding. He said he split the building’s renovation into phases because he did not receive enough money to improve the entire building all at once.
Sanchez said he wants to use the money to enhance the bathrooms since they are more than 35 years old. He said he also wants to modernize some of the laboratories that students use.
Retired Northern professor Tim Crone voted for the measure because he said the bonds will upgrade school facilities that are in need of repair.
“This money will improve buildings to make them more comfortable and beautify each of the college campuses in New Mexico,” Crone said. “It makes them more appealing so more students will attend. The increase in enrollment could help fund other projects and provide the justification for additional spending.”
However, not all residents are pleased with passage of the bond measure, especially those who possess rental property and own their own businesses.
“I am paying more than $10,000 in property taxes,” New Mexico Office Product owner Marlo Martinez said. “These taxes are making it difficult for me because I am going to have to earn a lot of money just to pay the taxes on the property I own. I think we are taxed enough already and I do not want to give any more of my money to the state.”
Others said they would rather see the college fund other projects that would directly benefit students.
“The Administration Building is a nice looking building,” current business administration student Ross Griego said. “I don’t think it needs to be changed or improved. I would like to see more of the money spent on technology. Technology is going to be the future.”
Griego said he would prefer the college invest more in new computers and equipment such as scanners, printers and software programs that would teach students skills they need for future jobs.