Almost two years after the city of Santa Fe learned it could no longer access millions of dollars in state money for capital projects without a fiscal agent, the New Mexico Department of Finance and Administration has lifted the restriction.
The agency "has reviewed our financial information, and they're comfortable with our ability to manage the capital outlay on our own without a fiscal agent," Santa Fe Finance Director Emily Oster said in an interview Thursday.
The change is one in a series of recent positive financial news for the city, she said, including the recovery of $324,000 stolen by a hacker from the city's vendor payment portal; the successful sale Aug. 5 of $25 million in general obligation bonds to Fidelity at a 4.36% interest rate; and an AA rating on its bonds — the