What is a General Obligation Bond?

A General Obligation Bond is a form of debt financing secured by property tax revenues. General obligation bonds can be issued for general purpose projects. State Statute 3-30-5 outlines the authority to issue general obligation bonds and purpose.


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1. What is a General Obligation Bond?
2. What is the Current City of Las Cruces GO Bond Outstanding Debt?
3. How much bonding capacity does the City of Las Cruces have for GO bonds?
4. How does the City Pay Down the General Obligation Bonds?
5. What is debt service?
6. What is General Obligation Bond Cycling?
7. Will Property Taxes go Down if I Vote No for the General Obligation Bonds?
8. Will Property Taxes Go Up if I Vote Yes for the General Obligation Bonds?
9. Why Are my Property Taxes Going Up?
10. How are Property Taxes Calculated?
11. What is Assessed Value?
12. What is the Mill Rate?
13. Who Determines the Mill Rate?
14. When the mill rate is established, does it get applied only to existing property or to new property?
15. Will there be future GO Bond Elections?
16. Where can I submit a question?