Let’s just sell the Spaceport
CHRISTOPHER TIMM makes a good point in suggesting the state use land grant funds to pay off the Rail Runner bonds. However, as to Spaceport America bonds, another option is to sell off the facility. Yes, just put out offers to sell and take the high bid.
Since the origin of space activities, governments, usually national governments, have been the prime operators as taxpayers must fund losses.
However, two very wealthy individuals, Jeff Bezos and Elon Musk, are funding from their deep, deep pockets very successful space companies. And they use Cape Canaveral and Vandenberg AFB as their prime sites.
In other words, the New Mexico Spaceport America does not meet their needs, or any other company’s business purpose. So why keep throwing good money after bad?