Education Bond D Will Help Give Our State's Economy a Positive Shift
9/10/2010 12:00:01 a.m. - Hobbs, NM. During this year’s general election on November 2, New Mexican voters will have an opportunity to positively impact education and the economy in our state by supporting General Obligation Bond D. The General Obligation Bond for Education, also known as Bond D, is placed on the ballot by the New Mexico State Legislature every two years. The 2010 cycle proposes allocating $155.2 million in funding for capital improvements at institutions of higher education and constitutional special schools through New Mexico if passed.
The General Obligation Bond D is funded by a modest property tax assessment of $9.98 per year on a property with an assessed value of $100,000. This minimal tax is designed to have a large impact because nearly every institution of higher education in the state will receive funding for much-needed improvements.
The capital improvement projects that receive funding under Bond D will have an immediate economic impact, creating jobs for architects, contractors and others in the construction trade. In addition, our state’s future doctors, nurses, engineers, technicians, lawyers, business leaders, entrepreneurs and other graduates will have an improved learning environment they need to succeed, which translates into a better skilled workforce that will attract higher paying jobs to New Mexico. It is estimated that a multiplier of 2.5 to 4 times the amount of money received by and institution can be used to estimate how the larger community (i.e. contractors, suppliers, etc.) will be impacted by the bond.
For more information about Education Bond D. visit www.EducationinNewMexico.com.