New Mexico Hospital Equipment Loan Council

2021 Annual Report

Message From The Administrator, Erika Campos, President of Hospital Services Corporation

Created in 1983 with the enactment of the New Mexico Hospital Equipment Loan Act, the Council’s purpose is to provide the healthcare industry with access to low-cost capital through the issuance of tax-exempt and taxable bonds, loans, and leases. The Council is an independent instrumentality of the State of New Mexico and is governed by a five-member Board appointed by the Governor. Through its Program Administrator, Hospital Services Corporation, the Council assists healthcare organizations with financing a broad spectrum of projects, including construction, equipment, and refinancing. The Council does not receive state appropriations or tax revenue and relies on borrower fees to pay for its operations. Additionally, any bonds issued by the Council do not create an obligation to the State of New Mexico.

In addition to traditional revenue bonds, loans and leases, the Council offers a property tax exemption for property acquired through an industrial revenue bond. The exemption from property tax is applicable for the life of the bond issue or loan, not to exceed thirty years from the date the bond was issued. This enabling legislation provides a significant benefit for borrowers that would not otherwise qualify for a property tax exemption under other constitutional or statutory provisions.

Both non-profit and for-profit healthcare facilities qualify for the property tax exemption. Non-profit healthcare facilities can issue tax-exempt debt, and for-profit healthcare facilities must issue taxable debt. Eligible healthcare facilities include any entity or person that:

is licensed by the Department of Health to provide health-related services, assisted living support or long-term care,
provides health-related research, or
is properly accredited or certified and eligible to receive Medicare or Medicaid reimbursement for all or part of its activities providing mental health services, developmental disabilities services, or related specialized support to or on behalf of a defined group of persons.

About the Council

The Council can finance any real or personal property, instrument, service, or operational necessity that is found and determined by the Council to be needed, directly or indirectly, for medical care, treatment or research, or other equipment as otherwise might be needed to operate the healthcare facility. The Council looks forward to working with interested borrowers to take advantage of the many financing options that are available. Since its creation in 1983, the Council has completed fifty-eight financings totaling more than $2.8 billion.

**Recent Transaction Work**

Over the past year, the Council has participated in a refinancing plan for Haverland Carter senior living properties (such as La Vida Llena), optimizing the financial strength of a company that cares for some of our most vulnerable. The work started in 2021 and will be finalized in 2022.
Haverland Carter is a not for profit dedicated to professional senior housing property and assisted living management.
Haverland Carter provides management services to retirement communities throughout New Mexico and the southwest.

HELC Council Members

Daniel Lyon

Council Chair
Mr. Daniel Lyon is an Albuquerque resident and attorney. Since 1963, he has served the state of New Mexico in numerous capacities, including the New Mexico State Parole Board, the Employment Security Commission, and as a four-term State Representative, chairing several House committees. Mr. Lyon’s appointments include the Governor’s Economic Opportunity Task Force and the Occupational Health and Safety Board. He received his Juris Doctor from the University of New Mexico, his Bachelor of Law degree from Blackstone School of Law, Chicago, and his Bachelor of Science degree from Milton College in Wisconsin.
R. Greg Leyendecker

Council Vice-Chair
Mr. Greg Leyendecker is President and CEO of New Mexico Bank & Trust, a position he has held since 1997. He has been in banking in New Mexico for over forty years, having started his career in El Paso, Texas. Mr. Leyendecker is active in several community and civic organizations. He serves on the boards of directors for the New Mexico Bankers Association, the Association of Commerce and Industry, and the Greater Albuquerque Chamber of Commerce, to name a few. He is a graduate of the University of Arkansas with a degree in Finance and Banking.
Christina Campos

Council Secretary
Ms. Christina Campos is the Administrator and CEO of Guadalupe County Hospital in Santa Rosa. She spearheaded the effort to fund and build a new hospital that provides state-of-the-art care and technology in a patient, family and community-centered environment. Ms. Campos is a member of the American Hospital Association Board of Trustees and serves on numerous state and local boards. She was appointed by then US Secretary of Health Kathleen Sebelius to serve on the National Advisory Committee for Rural Health and Human Services from 2013-2015. She received her Master of Business Administration degree from Regis University.
Kent Carruthers

Council Treasurer
Mr. Kent Carruthers has been the President of the Citizens Bank of Clovis since 1985. His community involvement includes the United Way, and he was named Citizen of the Year for Clovis in 2003, and again in 2016. Mr. Carruthers is a former National Bank Examiner with the Comptroller of the Currency and serves as the Federal Delegate for the State of New Mexico on the Independent Community Bankers Association of America. He is a graduate of the University of Colorado with a Bachelor of Science in Business Administration degree. Mr. Carruthers also graduated from the National Commercial Lending Graduate School at the University of Oklahoma.