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Eddy County took the first step to issue $500M of industrial revenue bonds for a new natural gas processing plant near Carlsbad Tuesday.

LOS LUNAS — The Los Lunas Village Council unanimously voted on May 6 to dissolve part of the LEDA fund created in 2016 for the Facebook Data Center. According to Jill Sweeny, the village’s bond attorney, two parts make up the entirety of the LEDA fund — one part being the $10 million grant awarded by the state for certain infrastructure in relation the data center and the other being an increment of the village gross receipts tax generated by the activity on site. Only the village portion of the LEDA fund will be dissolved. “Now that five or six years have gone by, certain...