Rio Rancho, NM – The Rio Rancho Regional Chamber of Commerce (RRRCC) has endorsed the City of Rio Rancho Road Bond and Public Safety Bond. The Board of Directors for the Chamber unanimously agreed that the bonds are crucial to the city’s future and our resident’s public safety.
The Road Bond will go towards reconstruction and rehabilitation of roads throughout the city and will not result in a tax increase. Rio Rancho President Jerry Schalow said “As we heard at the Chamber’s Mayoral Forum held on February 6th, residents and businesses want road improvements, and this bond is a key source to solving those needs.” The Road Bond will secure $10 million to repair Rockaway, Meadowlark, Sundt, Montreal, Country Club and Abrazo.
The Public Safety Bond is a new bond that will help ensure Rio Rancho maintains its status as New Mexico’s safest city. This bond will increase property taxes by $25 for every $100,000 in property value, which is a small amount compared to the alternative of higher insurance costs. The Chamber board unanimously agreed that this small increase will benefit residents with new equipment for our firefighters and the replacement of 50 aging police cars. Schalow said, “Rio Rancho currently maintains an insurance ISO rating of 2, which is one of the best ratings in the nation when it comes to fire protection. This results in lower homeowner and commercial insurance costs. This bond also helps the city replace 50 aging police cars, and will help the city continue to provide quick responses to resident.” The $4.1 million Public Safety Bond would provide funding for approximately 50 replacement police cars, two fire response trucks, an ambulance and firefighting equipment.
Statement From Gordon Moore, RRRCC Board of Directors 2018 Chair
“A well-maintained infrastructure and a safe city go hand-in-hand for a positive future for every resident,” said Chair of the Chamber Board, Gordon Moore. “Both bonds are essential for maintaining our community and the quality of life which we value so much here. It for these reasons the Board of the Chamber of Commerce unanimously supports these bonds.”
The proposed bonds adhere to the strategic vision for Rio Rancho and support our continued growth in the city. Financial experts agree that municipal bonds are a smart way to replace aging infrastructure. Interest rates are still historically low, making this the opportune time to undertake this initiative. More information about the bonds can be found at this link.
Please vote YES on March 6th in support of both the Road Bond and Public Safety Bond.