The New Mexico Finance Authority (the NMFA) was created with passage of the New Mexico Finance Authority Act in 1992 (Chapter 6, Article 21, NMSA 1978). The NMFA assists qualified governmental entities with affordable financing of capital equipment and infrastructure projects by providing low-cost funds and technical assistance. The NMFA is a state instrumentality governed by a Board of Directors, consisting of twelve members, ten of whom are appointed by the Governor. The NMFA is not subject to the supervision or control of any other board, bureau, department or agency of the state. The Legislative Oversight Committee is empowered to monitor and oversee its operations.
The NMFA adopted its Vision, Mission and Values statements in 2005.
Vision Statement
Financing your future, believing in New Mexico.
Mission Statement
We are dedicated to improving the lives of New Mexicans, by planning and financing infrastructure, strengthening the economy through public/private partnerships and setting the standard for superior, diverse, innovative and solution-driven financing.
Values StatementTo the NMFA, values represent the core priorities in the organization's culture.
The NMFA assists qualified governmental entities in the financing of capital equipment and infrastructure projects at any stage of completion – from pre-planning through construction – by providing low-cost funds and technical assistance through its five main financing sources:
Drinking Water Revolving Loan Fund (DWRLF)
Primary Care Capital Fund (PCCF)
Public Project Revolving Fund (PPRF)
State Buildings and Automation Project Financing
Water and Wastewater Grant Fund (W/WWGF)
The Water Trust Fund (created in 2001) is also administered by the NMFA, and the NMFA provides staff support to the Water Trust Board which oversees this fund.
Governmental entities within New Mexico that can receive funding through NMFA’s programs are defined by state statute to include the following:
- State of New Mexico
- State Agency
- State Institution
- County
- Municipality
- School District
- Special District
- Community Water Association
- Land Grant Corporation
- Indian Nation, Tribe, or Pueblo located wholly or partially within New Mexico
As of June 30, 2009, the NMFA has made 850 loans totaling $1.584 billion. The emphasis of the NMFA’s programs is on funding capital projects with a useful life of 3 years or longer. These include, but are not limited to:
- Equipment
- Buildings
- Hospitals
- Water Systems
- Sewer Systems
- Solid Waste Facilities
- Streets
- Airports
- Municipal Facilities
- Parking Facilities