City of Roswell AgendaPacket Regular City Council Meeting 2026-06-11
Roswell Pursues NMFA Loan to Refinance Utility Bonds
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Description
The City of Roswell plans to enter a loan agreement with New Mexico Finance Authority to refinance its Series 2017 Water and Sewer Improvement Bonds, not to exceed $11.75 million. The move aims to achieve $750,000 in interest savings by issuing a new loan payable over up to 15 years from utility revenues.
Contract Details
Contract Amount
Not to exceed $11,750,000
Vendor
NEW MEXICO FINANCE AUTHORITY
Agency
City of Roswell, NM
Contract Type
FINANCIAL_SERVICES
Document Date
June 11, 2026
Contract Term
Maximum term 15 years (through approximately June 2041)
Renewal Date
2041-06-01
Renewal Info
No recurring renewal; agreement lasts until refinanced bonds paid off. Ordinance may be amended only with NMFA consent.
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