San Juan County Commissioners Unanimously Approve Industrial Revenue Bonds for Desert Rock

Farmington, NM - In a 4-0 vote on August 15, 2007, the Commissioners of San Juan County unanimously approved an inducement resolution which is the next step in the process to issue an Industrial Revenue Bond package. The package includes Desert Rock making payments in lieu of taxes ("PILOT"). These payments include $8 million, up front, to the Central Consolidated School District to fund new facilities, equipment, or services that may be required to address increased school enrollment during the construction of the project. Overall, the PILOT provides for payments exceeding $16 million to the County taxing authorities during construction of Desert Rock and payments of $151 million during 27 years of plant operations. With the plan, Desert Rock would be one of the county’s largest tax payers.