ALBUQUERQUE BUSINESSES APPEAR TO BE GETTING THEIR INDUSTRIAL REVENUE BONDS FROM BERNALILLO COUNTY INSTEAD OF THE CITY. THE ALBUQUERQUE JOURNAL REPORTS THAT IN THE PAST FIVE YEARS, THE COUNTY HAS APPROVED 26 IRB’S. THE CITY OF ALBUQUERQUE HAS APPROVED NONE.
ALBUQUERQUE WAS THE BIGGEST ISSUER OF THE BONDS IN NEW MEXICO IN 2011. THE LATEST NUMBERS ARE PARTLY ATTRIBUTED TO THE CITY TAKING MUCH LONGER TO APPROVE IRB’S THAN THE COUNTY. THE JOURNAL REPORTS IT TYPICALLY TAKES THE COUNTY 8-TO-10 WEEKS … WHILE IT CAN TAKE ALBUQUERQUE A MONTH MORE OR LONGER.
