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CNM Investor

Information about CNM's general obligation bonds.

Agency Contacts

Moody's Investors Service
Public Finance Regional Office
One Front Street, Suite 1900
San Francisco, CA 94111
(212) 553-1653

Standard & Poor's Financial Services
55 Water St
New York, NY 10041
(877) 772-5436 Option 3,1

CNM issues general obligation (limited tax) bonds (GO(LT)), which are a common type of municipal bond issued by local and state governments, where the entity levies a tax to service debt obligations. The limited tax nature only for structuring bond payments, the tax rate limit is $5.00 per $1,000 of assessed property valuation. The current tax rate is $1.00 per $1,000 of property. Following the issuance, the tax rate can exceed $5.00 in the event the tax base is reduced.

These general obligation bonds are an attractive investment because they are considered to be very low risk. Consequently, GO(LT)s generally have high bond ratings because factored into the default risk is the municipality’s ability to raise tax rates or levy new taxes in order to meet its obligation to bondholders.

Another great benefit of GO(LT)s is that the interest earned is exempt from federal income tax.

All of CNM’s GO(LT) debt service requirements are paid by mill levies (property tax) from both Bernalillo and Sandoval Counties. CNM does not have any revenue bonds outstanding but is permitted to issue system revenue bonds.

You can learn more about the debt management and guidance in CNM's Debt Management Policy.


Credit Ratings

On CNM’s General Obligation (Limited Tax) bonds (Series 2016), Moody’s gave a rating of Aa1, and Standard & Poor’s rated them AA+.

Read the full rating reports:

Long Term Debt Securities Credit Rating Scale

Moody's Rating Scale

S&P Rating Scale

Rating Description

Aaa

AAA

Prime

Aa1 (CNM GO(LT) rating)

AA+ (CNM GO(LT) rating)

High Grade

Aa2

AA

Aa3

AA-

A1

A+

Upper Medium Grade

A2

A

A3

A-

Baa1

BBB+

Lower Medium Grade

Baa2

BBB

Baa3

BBB-

Preliminary Official Statement

The Preliminary Official Statement and Notice of Sale for the following issue are now available:

Central New Mexico Community College
Bernalillo and Sandoval Counties, New Mexico
$42,000,000
General Obligation (Limited Tax) Bonds, Series 2016

Bids will be received until 10:00 AM, prevailing Mountain Time, Tuesday, October 11, 2016.

Financial Reports

Prior state audits can be viewed at the New Mexico State Auditor site by searching for Central New Mexico Community College.

Prices, disclosures and other information regarding our municipal bonds can be found at the Electronic Municipal Market Access website.