Richardson’s attorney discounted the testimony as “not credible.”
Fast forward to today. Thanks to changes in the federal tax code pushed by Trump and passed by Congress, it was fiscally responsible to refinance the entire mess. Also the refinance got rid of high cost balloon payments in the final two years of the bonds.
New Mexico's past corruption runs deep, but the Dems are no doubt cooking up new schemes to enrich themselves at taxpayer expense.
1 posted on
08/12/2018 4:55:55 PM PDT by
CedarDave
To: LegendHasIt; leapfrog0202; Santa Fe_Conservative; DesertDreamer; OneWingedShark; CougarGA7; ...
Richardson wanted New Mexico to have a ABQ-Santa Fe commuter railroad to enhance his environmental resume when running for president in 2008. Using the bond money and eschewing federal transit construction money (which required a cost/benefit analysis that the project couldn't meet), Richardson spent just shy of $500 million to buy more than 82 miles of ROW from BNSF and construct another 18 miles up La Bajada hill to connect with I-25 for the run to Santa Fe.
With yearly interest of $28 million and balloon payments previously due in 2025 and 2026, the cost of the railroad is about 3/4 of a billion dollars. And that doesn't include the annual operating deficit of about $25.6 million dollars.
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2 posted on
08/12/2018 5:08:36 PM PDT by
CedarDave
(DJT: "Rather take a political risk in pursuit of peace than risk peace in the pursuit of politics.")
To: CedarDave
5 posted on
08/12/2018 5:34:51 PM PDT by
\/\/ayne
(I regret that I have but one subscription cancellation notice to give to my local newspaper.)
To: CedarDave
New Mexico’s past corruption runs deep, but the Dems are no doubt cooking up new schemes to enrich themselves at taxpayer expense.
><
That’s a certainty.
6 posted on
08/12/2018 5:41:41 PM PDT by
laplata
(Liberals/Progressives have diseased minds.)
To: CedarDave
Richrdson was tasked with the job of finding a job away from Washington for Monica Lewinsky when the sexual favors under the Oval Office desk were revealed.
To: CedarDave
To: CedarDave
So, is anything going to happen to this crook, or does he walk away unscathed?
20 posted on
08/12/2018 8:37:12 PM PDT by
Pining_4_TX
(".... and as many as were appointed to eternal life believed." Acts 13:48)
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