Staff report
The Higher Education Initiative was approved Tuesday in Rio Rancho.
The bond passed with 63 percent of the vote.
The bond authorizes a .025 percent hike on gross receipts tax in Rio Rancho.
The funds are equivalent to 25 cents per $100 and will go toward the acquisition, reconstruction, renovation and improvement of a UNM campus in Rio Rancho.
The vote is part of the first phase of UNM's plans to build a campus similar in size to Main Campus.
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The school will offer upper-level courses, while introductory courses will be offered in a partnership with CNM.
UNM owns 300 acres near Paseo del Volcan and Unser Boulevard in Rio Rancho for development of the campus.
The bond is the second tax increase for the UNM-CNM co-operation, which aims to build a campus in Rio Rancho.
In November, voters approved a measure to expand CNM's taxing district in Rio Rancho, allowing the community college to build a $20 million facility.
President David Schmidly, who has been behind the initiative since last fall, could not be reached for comment.
