Group raises $283K to promote NM bond issue

Oct 1, 2012

The private fundraising foundations of colleges and universities are bankrolling a general election campaign for voter approval of bond financing for $120 million in higher education construction projects.

Campaign finance reports show a political committee backing the bonds has raised about $283,000. Most of the money comes from foundations for the colleges, universities and other schools with projects to be funded by the general obligation bonds.

An organizer says the committee will use the money for television and newspaper advertising as well as billboards and brochures. It's one of three statewide bond questions on the November ballot. Others finance senior citizen projects and library acquisitions and equipment.

State officials say property taxes will not increase if this year's bonds are approved.

Voters rejected a higher education bond proposal in 2010.