NM SB190

New Mexico Finance Authority authorized to issue up to $5,735,316 in revenue bonds with terms not exceeding 20 years for the Gila Regional Cancer Center at Gila Regional Medical Center in Grant County

Bond proceeds may fund equipment purchases, computer hardware and software, and room renovations at the regional cancer treatment center

Chair of the Gila Regional Medical Center board of trustees must certify the need for bond issuance before bonds can be sold

Excess balances in the rural county cancer treatment fund may be used in lieu of issuing bonds, but total funding from bonds and balances cannot exceed $5,735,316

Cigarette tax proceeds distributed to the authority are pledged for payment of bond principal, interest, premiums, and related expenses