General Obligation bonds appear on New Mexico ballots every two years, according to the University of New Mexico, and there are no tax increases associated with them. GO bonds are public debts that are paid through statewide property taxes, according to Ballotpedia.
The Public Education Bond Issue on the New Mexico ballot will issue $230 million in bonds to fund higher education if it passes.
The funds would be dispersed among New Mexico’s public higher education colleges, special schools and tribal schools.
Institutions — including the University of New Mexico, New Mexico State University, Eastern New Mexico University, San Juan College and Navajo Technical University — will split the funding if the bond is approved by voters, according to House Bill 308.
$94.5 million would go to UNM. This would go toward renovations for the College of Pharmacy, along with infrastructure and building renovations for the Taos, Gallup, Los Alamos and Valencia campuses, according to UNM Newsroom.
Included within the money that would be allocated to UNM is $52 million for a new Humanities & Social Sciences Complex. Passing the bond would open up 2,300 new jobs in construction, education and more, according to UNM Newsroom.
The current humanities building is in “dire” need of replacement, according to Jennifer Malat, dean of the UNM College of Arts & Sciences.
“The roof leaks, the ground floor floods, and the spaces for learning and gathering are inadequate,” Malat wrote in a statement to the Daily Lobo.
If the bond passes, Central New Mexico Community College will receive $16 million, which the school would use to complete projects at its Bernalillo County and Sandoval County campuses, according to CNM’s website.
$50.5 million from the bond would be used by NMSU to update infrastructure on its campuses and agricultural research centers statewide, according to NMSU’s website.
“Given the broad reach of the humanities and social sciences, these disciplines play a critical role in preparing New Mexico residents for successful careers and fulfilling lives,” Malat wrote.
Maria Fernandez is a freelance reporter and photographer for the Daily Lobo. She can be reached at news@dailylobo.com or on X @dailylobo
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