The Rio Rancho City Council will consider authorizing $25 million in water and wastewater system improvement revenue bonds during its regular meeting Thursday night.
The proposed ordinance would establish parameters for the bonds, which would be the first of two planned utility revenue bond issuances over the next five years as part of a $50 million bonding program.
According to city documents, the bonds would finance improvements to water lines, storage facilities, well improvements, sewer lines, lift stations, treatment facilities and recycled water projects. The city’s Infrastructure Capital Improvement Plan totals $218.4 million from fiscal years 2026 through 2031.
The bonds would carry a maximum interest rate of 12 percent and mature no later than May 15, 2057. They would be backed solely by net revenues from the utility system operations.
City staff is recommending approval of the ordinance, which would delegate authority to the mayor, city manager and finance director to determine final terms, including exact principal amounts, maturity dates and interest rates.
The council will also consider placing general obligation bond questions on the March 3, 2026 municipal election ballot for roads, public safety and quality of life facilities.
Other agenda items include several budget adjustments for state appropriations, transportation project authorizations, and appointments to the city’s Ethics Panel.
The meeting begins at 6 p.m. in the Council Chambers and will be streamed live on the city’s website. Public comments on agenda items must be registered in person with the City Clerk no later than 15 minutes before the meeting starts.