Grant County Commission discusses industrial revenue bond at work session 111621, part 8

Category: Front Page News Front Page News
Published: 02 December 2021 02 December 2021

[Editor's Note: This is the eighth of several articles on the Grant County Commission work session on Nov. 16 and the regular meeting Nov. 18, 2021. This article gets into a discussion on the industrial revenue bond ordinance, which took place at the work session.]

By Mary Alice Murphy

The first presentation of the Grant County Commission work session on Nov. 16, 2021, which covered the redistricting of the commission maps can be read at https://www.grantcountybeat.com/news/news-articles/68669-grant-county-commission-hears-first-of-five-presentations-at-work-session-111621-part-1. The following link covers the update on the Grant County Outdoor Recreation and Trails Master Plan: https://www.grantcountybeat.com/news/news-articles/68672-grant-county-commission-hears-second-of-five-presentations-at-work-session-111621-part-2 . The third link leads to the discussion of a proposed disc golf course on state trust land: https://www.grantcountybeat.com/news/news-articles/68699-grant-county-commission-hears-third-of-five-presentations-at-work-session-111621-part-3 . The fourth link covers a presentation from Air Methods: https://www.grantcountybeat.com/news/news-articles/68748-grant-county-commission-hears-fourth-of-five-presentations-at-work-session-111621-part-4. The fifth and final presentation discussed a proposal for a new HMS Clinic in Mimbres: https://www.grantcountybeat.com/news/news-articles/68766-grant-county-commission-hears-fifth-presentation-at-work-session-111621-part-5 The sixth article addressed county reports at the work session: https://www.grantcountybeat.com/news/news-articles/68795-grant-county-commission-hears-reports-and-updates-at-work-session-111621-and-regular-session-111821-part-6 The seventh part covered the GRMC monthly report: https://www.grantcountybeat.com/news/news-articles/68799-grant-county-commission-hears-of-past-due-grmc-account-balance-sale-at-regular-meeting-111821-part-7

The next discussion at the work session on Nov. 16, 2021, addressed the industrial revenue bond proposed to finance The Great Divide Wind Farm in southwestern Grant County.

Luis Carrasco, bond counsel with Rodey Law Firm, said he was still waiting for information, but "in connection with the discussions, the time has come to work on the ordinance. Using the 2018 version may not make sense due to changes. Authority to act on the bond usually comes from the commission chair and the county manager. Substantive terms are exclusively set out in the ordinance. The company (Scout Energy) has asked for the ordinance, so they can make the case for economic feasibility. I don't think the company intended to issue the bonds until the end of 2023. The word we're hearing is that the Legislature is not intending to make any changes in the ordinance process, but, of course, that could change. Option 2 is a detailed ordinance with stipulations. I think a modified approach is more appropriate. In at least one county, they were fine with all the details, but we don't need one as detailed, as an ordinance is required before the bond can close. All items would be reviewed by the county before the closure of the bond insurance. Please give me guidance on the way the county wants to proceed."

District 3 Commissioner Alicia Edwards asked why the county needs to choose an option.

County Manager Tim Zamora said from his perspective, "if we have guidance on how to deal with the schools, it would help. We still have a lot of negotiations ahead with the company. I think the ordinance is still a couple of months away. I would also like guidance on the payment in lieu of taxes for the bond, too."

Edwards said she knows that District 5 Commissioner Harry Browne is working on the PILT piece. "I think he is working on a statue change at the state level to make the payment per student."

District 4 Commissioner Billy Billings asked when the deadline for the ordinance is.

Zamora said the county had passed the resolution. "We spoke to the company, and we will proceed as needed. I think we have a few months before we need the ordinance, although I know the company wants it sooner. I think it would be easier to have the payment per school district."

Carrasco said part of choosing the option depends on if the Legislature is making changes. "Part of my thinking is to get the ordinance to move forward with the bond, so we can do an ordinance to get the needs of the company met, but we will be able to make changes to the ordinance. In San Juan County, they still had a lot of uncertainty on the details, but they chose to pass an ordinance to approve the issuance of the bond. Because the commissioners can review the final version of the bond documents, you can rework them and the ordinance until they are satisfactory for the company and the county. It gives us flexibility."

Billings said he wouldn't mind proceeding that way, as along as "we are not blocking the company. Plus, I prefer to leave the decision to the chair and the manager."

Edwards said she, too, did not want to throw up any roadblocks, "if we can continue negotiations on the PILT."

District 2 Commissioner Javier "Harvey" Salas said he understands Browne wanting to support his school district, but "I want to support my school district."

The item was not on the regular meeting agenda, so no action was taken. The ordinance will come back at some future meeting, because one has to be passed before the bonds can be issued for the wind project.

The next article will begin with the review at the work session of the regular meeting agenda and get into parts of the regular meeting, including decisions made by commissioners.

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