Luna County to Refinance District Courthouse
(Deming) - Luna County officials believe they could save between 400 and 500 thousand dollars by refinancing the loan on the District Courthouse.
In 2007, bonds were issued to build the District Courthouse on South Platinum Street. With the interest rate then a little above 4%.
Ira Pearson, Luna County Manager told Deming Radio News that the county looked into refinancing the bonds at a new lower rate of around 3% before the Feds raised interest rates.
The county had two direct buy interests.. meaning that instead of going out to public offerings and selling individual bonds, they would direct buy the whole lot - worth a little less than 4 million dollars.
Luna County received replies from BBVA Compass Bank out of Colorado, and the New Mexico Finance Authority.
Pearson said the terms would be the same, and the bonds would expire in 15 years.
With a savings of 4 to 5 hundred thousand dollars just in refinancing the bonds and it includes the refinancing costs.
A special meeting will be held this Wednesday March 29th for the Commissioners to consider an ordinance to refinance with a direct buy from BBVA Compass Bank.
If approved, the refinancing could be completed within the next 45 days.
Pearson said the ultimate goal was to try to save the taxpayer money.
Local Crime Report for Today
(Deming) – Here’s today’s local crime report:
Esteban Duran, age 38, was arrested on a 6th Judicial District Court warrant for failure to appear… Alberto Apodaca, age 18, arrested on a 6th Judicial District Court warrant for probation violations… Alex Quintana, age 33, of Las Cruces was arrested for driving with a suspended or revoked license and failure to stop…Ralph Montoya, age 39, from Las Cruces, was arrested on a Deming Municipal warrant for failure to appear… and Randal Montes, age 25, arrested on a Deming Municipal court warrant for failure to pay fines.
In juvenile arrests, a 17 year old Deming boy was arrested on a 6th Judicial District Court Juvenile warrant for probation violations, he was also charged with resisting, obstructing or evading an officer.
In other reports, $600 in cash was stolen from a resident on Encanto Circle… and a 64 year old Deming woman reported a phone scam to police. She said she received a call from a person in Colorado who was advising her she had a warrant out for her arrest and the bond was a lot of money. The woman did not send any money to the caller and reported the case to police.
Luna County Broadcasting
P.O. Box 470
1700 S. Gold Ave.
Deming, NM 88031 (88030)
Webmaster : John W. Krehbiel
Local Deming Weather
Deming Radio Weather – Monday March 27th
Monday: Mostly sunny and breezy. High: Mid 70s. Wind SW @ 10 to 20 mph, gusting to 25.
Monday Night: Partly cloudy and breezy. Low: Upper 40s.
Tuesday: A few clouds in the morning, then blowing dust in the afternoon causing poor visibility. Cooler. High: Mid 60s. Wind SW @ 15 to 25 mph, gusting to 45.
Tuesday Night: Partly cloudy and windy. Low: Lower 40s. Wind W @ 15 to 25 mph, gusting to 35.
Wednesday: Mostly sunny and not as windy. High: Lower 70s. Wind NW @ 20 mph.
Thursday: Sunny, breezy and warmer. High: Mid 70s.
Steve Hamilton, AMS Meteorologist
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