{
 "schema": "https://projectjupiter.watch/data#money-v1",
 "project": "Project Jupiter Watch",
 "description": "Project Jupiter's money in five ledgers (public subsidy, campaign money, lobbying and advocacy, the project's own financing, promised payments). The ledgers are NEVER to be summed: they are different kinds of money on different clocks, several values are ceilings or estimates rather than amounts moved, and a lobbyist's report and a recipient's report of the same gift are one gift. `kind` says what each value is; `tier` says how solid it is. The influence ladder states what the record shows and does not rule out; it accuses no one.",
 "license": "CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/",
 "cite_as": "the Project Jupiter Watch, projectjupiter.watch",
 "generated": "2026-10-20T22:58:01.285Z",
 "verification_tiers": {
  "primary-source": "Read off the primary document itself",
  "confirmed": "Two independent accounts agree",
  "caveated": "True with a stated limit on it",
  "contested": "Disputed by a named party; both positions carried",
  "corrected": "Was published wrong; the correction is logged at /corrections"
 },
 "right_of_reply": "Anyone named holds a standing right of reply — https://projectjupiter.watch/about",
 "corrections": "https://projectjupiter.watch/corrections",
 "counts": {
  "figures": 21,
  "ledgers": 5,
  "rungs": 7
 },
 "data": {
  "as_of": "2026-10-18",
  "ledgers": [
   {
    "n": 1,
    "title": "Public subsidy",
    "question": "What the public gives up — and what it holds in return"
   },
   {
    "n": 2,
    "title": "Campaign money",
    "question": "What the companies and their people gave to New Mexico politics"
   },
   {
    "n": 3,
    "title": "Lobbying and advocacy",
    "question": "What was spent to persuade"
   },
   {
    "n": 4,
    "title": "The project’s own financing",
    "question": "Private money at private risk"
   },
   {
    "n": 5,
    "title": "Promised payments",
    "question": "What the companies say they will pay the public — company claims, not yet contracts on the record"
   }
  ],
  "figures": [
   {
    "id": "bonds",
    "ledger": 1,
    "label": "Industrial revenue bonds",
    "value": "up to $165,000,000,000",
    "kind": "ceiling",
    "tier": "primary",
    "date": "2025-11-12",
    "node": "PJCL206",
    "note": "A ceiling on drawdown bonds, every series bought by a company on the borrowing side. It moves title to the county — which takes the property off the tax rolls — not money. The county pledged no faith and credit: no public debt.",
    "sources": [
     {
      "label": "IRB Series 2025C, executed & recorded (county PDF)",
      "url": "https://www.donaana.gov/Documents/About%20Us/Economic%20Development%20Projects/IRB%20Series%202025C%20-%20Executed%20%26%20Recorded.pdf"
     },
     {
      "label": "IRB Series 2025B, executed & recorded (county PDF)",
      "url": "https://www.donaana.gov/Documents/About%20Us/Economic%20Development%20Projects/IRB%20Series%202025B%20-%20Executed%20%26%20Recorded.pdf"
     }
    ]
   },
   {
    "id": "lfc",
    "ledger": 1,
    "label": "Tax benefits, as estimated by the Legislative Finance Committee",
    "value": "up to $3,300,000,000",
    "kind": "estimate",
    "tier": "primary",
    "date": "2026-07-22",
    "note": "The LFC’s maximum: $1.7 billion in state gross-receipts deductions and $1.6 billion in local GRT and property-tax benefits. No time horizon stated, and no estimate of whether the incentive changed the decision.",
    "sources": [
     {
      "label": "LFC Policy Spotlight: Industrial Revenue Bonds (July 2026, PDF)",
      "url": "https://www.nmlegis.gov/Entity/LFC/Documents/Program_Evaluation_Reports/Policy%20Spotlight%20Industrial%20Revenue%20Bonds%20July%202026.pdf"
     }
    ]
   },
   {
    "id": "abatement",
    "ledger": 1,
    "label": "Property-tax abatement",
    "value": "30 years",
    "kind": "term",
    "tier": "primary",
    "date": "2025-09-24",
    "note": "The dollar value taken off the county’s rolls has not been published.",
    "sources": [
     {
      "label": "County MOU, executed (PDF)",
      "url": "https://haussamen.com/wp-content/uploads/2025/12/Executed-Memorandum-of-Understanding-MOU.pdf"
     }
    ]
   },
   {
    "id": "pilot",
    "ledger": 1,
    "label": "Payment in lieu of taxes",
    "value": "$12,000,000 a year",
    "kind": "flow",
    "tier": "primary",
    "date": "2025-09-24",
    "node": "PJC22",
    "note": "A flow back to the public, not a subsidy — the county’s only recurring revenue from the project. Thirty years at $12 million is $360 million, before inflation.",
    "sources": [
     {
      "label": "County MOU, executed (PDF)",
      "url": "https://haussamen.com/wp-content/uploads/2025/12/Executed-Memorandum-of-Understanding-MOU.pdf"
     }
    ]
   },
   {
    "id": "leda",
    "ledger": 1,
    "label": "State and county share of construction gross receipts tax",
    "value": "50% of the increments, through Oct 23, 2035",
    "kind": "flow",
    "tier": "primary",
    "date": "2025-10-23",
    "note": "The first $50 million goes to a county water and wastewater fund. It is clawed back only if construction investment stays under $350 million by 2035, and every clawback is waived once it passes $400 million after 2027 — against a stated $50 billion investment.",
    "sources": [
     {
      "label": "LEDA Project Participation Agreement, executed (county PDF)",
      "url": "https://www.donaana.gov/Documents/About%20Us/Economic%20Development%20Projects/LEDA%20PPA%20GRT%20Share_Executed.pdf"
     }
    ]
   },
   {
    "id": "jtip",
    "ledger": 1,
    "label": "Job-training grant (JTIP) to STACK",
    "value": "$3,056,745",
    "kind": "stock",
    "tier": "primary",
    "date": "2026-05-08",
    "node": "PJE108",
    "note": "A cash grant for training, the one subsidy the incentive literature rates well per dollar.",
    "sources": [
     {
      "label": "NM EDD — JTIP board agenda (May 8 2026, PDF)",
      "url": "https://www.edd.newmexico.gov/wp-content/uploads/2026/05/JTIP-Agenda-5.8.2026.pdf"
     }
    ]
   },
   {
    "id": "guaranty",
    "ledger": 1,
    "label": "What the county holds: a guaranty",
    "value": "$11,400,000, until June 30, 2037",
    "kind": "cap",
    "tier": "primary",
    "date": "2025-11-12",
    "node": "PJCL208",
    "note": "From Green Chile Ventures LLC, Oracle’s project company — not Oracle Corporation. It covers the benefits-agreement payments only: not the payment in lieu of taxes, not the bonds.",
    "sources": [
     {
      "label": "IRB Series 2025C, executed & recorded (county PDF)",
      "url": "https://www.donaana.gov/Documents/About%20Us/Economic%20Development%20Projects/IRB%20Series%202025C%20-%20Executed%20%26%20Recorded.pdf"
     }
    ]
   },
   {
    "id": "perjob",
    "ledger": 1,
    "label": "The Watch’s arithmetic: LFC maximum ÷ required jobs",
    "value": "≈ $4,400,000 per job",
    "kind": "estimate",
    "tier": "arithmetic",
    "date": "2026-10-18",
    "note": "$3.3 billion ÷ 750 full-time jobs required by December 31, 2031. Unknowns change it: the LFC states no time horizon, and does not say whether its figure is before or after the payments in lieu of taxes. Good Jobs First’s 2016 average for data-center megadeals was $1.95 million per job.",
    "sources": [
     {
      "label": "LFC Policy Spotlight: Industrial Revenue Bonds (July 2026, PDF)",
      "url": "https://www.nmlegis.gov/Entity/LFC/Documents/Program_Evaluation_Reports/Policy%20Spotlight%20Industrial%20Revenue%20Bonds%20July%202026.pdf"
     },
     {
      "label": "LEDA Project Participation Agreement, executed (county PDF)",
      "url": "https://www.donaana.gov/Documents/About%20Us/Economic%20Development%20Projects/LEDA%20PPA%20GRT%20Share_Executed.pdf"
     }
    ]
   },
   {
    "id": "bdaco",
    "ledger": 2,
    "label": "BorderPlex Digital Assets, as a donor",
    "value": "$138,325 net (2025–26)",
    "kind": "floor",
    "tier": "primary",
    "date": "2026-10-18",
    "node": "PJCL203",
    "note": "Twenty-four contributions totalling $148,325, less $10,000 returned by Rep. Nathan Small’s campaign. Its lobbyist reported $145,000 of the same gifts on its behalf — one set of gifts, disclosed twice, never added together.",
    "sources": [
     {
      "label": "NM Secretary of State — campaign finance filings (CFIS)",
      "url": "https://login.cfis.sos.state.nm.us/registrant.html"
     }
    ]
   },
   {
    "id": "oracleco",
    "ledger": 2,
    "label": "Oracle America, as a donor",
    "value": "$54,850 net (2025–26)",
    "kind": "floor",
    "tier": "primary",
    "date": "2026-10-18",
    "node": "PJCL203",
    "note": "$59,850 given, less a $5,000 return reported by the House Democratic campaign committee.",
    "sources": [
     {
      "label": "NM Secretary of State — campaign finance filings (CFIS)",
      "url": "https://login.cfis.sos.state.nm.us/registrant.html"
     }
    ]
   },
   {
    "id": "etco",
    "ledger": 2,
    "label": "Energy Transfer, as a donor",
    "value": "$261,127 (2026)",
    "kind": "floor",
    "tier": "primary",
    "date": "2026-10-18",
    "node": "PJCL203",
    "note": "Mostly $250,000 to Affordable NM. Energy Transfer’s political action committee separately gave $5,000 to a state senator’s campaign in July; that is listed apart, not added.",
    "sources": [
     {
      "label": "NM Secretary of State — campaign finance filings (CFIS)",
      "url": "https://login.cfis.sos.state.nm.us/registrant.html"
     }
    ]
   },
   {
    "id": "gov",
    "ledger": 2,
    "label": "Executives and the companies to the governor candidates",
    "value": "$112,200 to the Democrat; $0 to the Republican",
    "kind": "floor",
    "tier": "primary",
    "date": "2026-09-28",
    "node": "PJCL204",
    "note": "Contributions of $1,000 or more from Oracle, STACK and the contractor Clayco and their executives, matched on name and reported employer.",
    "sources": [
     {
      "label": "NM Secretary of State — campaign finance filings (CFIS)",
      "url": "https://login.cfis.sos.state.nm.us/registrant.html"
     }
    ]
   },
   {
    "id": "lobby",
    "ledger": 3,
    "label": "Registered lobbyists for the project’s companies",
    "value": "seven or more, for seven employers",
    "kind": "count",
    "tier": "primary",
    "date": "2026-10-18",
    "node": "PJCL200",
    "note": "Yucca Growth Infrastructure, BorderPlex, Bloom Energy, STACK, Oracle America, and — since October 1 — OpenAI OpCo LLC, plus Energy Transfer. “Authorized: No” on a roster is reported as filed, never interpreted.",
    "sources": [
     {
      "label": "NM Secretary of State — campaign finance filings (CFIS)",
      "url": "https://login.cfis.sos.state.nm.us/registrant.html"
     }
    ]
   },
   {
    "id": "orcl-ads",
    "ledger": 3,
    "label": "Oracle’s advertising campaign aimed at the air permit",
    "value": "$3,444,500",
    "kind": "stock",
    "tier": "primary",
    "date": "2026-09-16",
    "note": "Disclosed to the State Ethics Commission as aimed at Environment Department officials. Oracle said the disclosure was not an admission that it was required.",
    "sources": [
     {
      "label": "NM State Ethics Commission — Oracle discloses $3.44M campaign (Sept 16 2026)",
      "url": "https://www.sec.nm.gov/2026/09/16/press-release-oracle-registers-and-discloses-3-44-million-project-jupiter-lobbying-advertising-campaign/"
     }
    ]
   },
   {
    "id": "elevate",
    "ledger": 3,
    "label": "Elevate New Mexico, funded by the permit applicant",
    "value": "$3,667,000 in; $419,478.44 spent on ads",
    "kind": "stock",
    "tier": "primary",
    "date": "2026-07-24",
    "node": "PJCL146",
    "note": "All of it from Yucca Growth Infrastructure, disclosed only under an Ethics Commission settlement. What happened to the rest has not been reported.",
    "sources": [
     {
      "label": "NM State Ethics Commission — complaint against Elevate New Mexico (PDF)",
      "url": "https://www.sec.nm.gov/wp-content/uploads/2026/04/2026-04-17-SEC-v.-Elevate-Compl.pdf"
     }
    ]
   },
   {
    "id": "loan",
    "ledger": 4,
    "label": "Bank construction loan",
    "value": "about $18,000,000,000",
    "kind": "stock",
    "tier": "confirmed",
    "date": "2026-09-18",
    "node": "PJCL198",
    "note": "Reported, not published: about twenty banks, four years plus two one-year extensions. In September syndicate banks were quoting it at 89 to 91 cents on the dollar.",
    "sources": [
     {
      "label": "Reuters, citing the Financial Times (Sept 18 2026)",
      "url": "https://lufkindailynews.com/news_reuters/business/oracles-18-billion-data-center-debt-under-pressure-ft-reports/article_fc96afce-ddbf-5371-94c4-efe85bf44087.html"
     }
    ]
   },
   {
    "id": "equity",
    "ledger": 4,
    "label": "Blue Owl equity",
    "value": "about $3,000,000,000",
    "kind": "stock",
    "tier": "caveated",
    "date": "2026-09-24",
    "note": "One person familiar with the deal, to Reuters — who also said Oracle cannot terminate its lease and pays the debt costs.",
    "sources": [
     {
      "label": "Reuters via BNN Bloomberg (Sept 24 2026)",
      "url": "https://www.bnnbloomberg.ca/business/artificial-intelligence/2026/09/24/oracle-triggers-force-majeure-on-data-centre-project-over-power-delays-source-says/"
     }
    ]
   },
   {
    "id": "trust",
    "ledger": 4,
    "label": "Who owns the landlord companies",
    "value": "listed as subsidiaries of a Blue Owl REIT",
    "kind": "claim",
    "tier": "primary",
    "date": "2026-03-13",
    "node": "PJCL207",
    "note": "Blue Owl Real Estate Net Lease Trust, a non-listed REIT that sells shares through a private offering, lists the Red Chiles companies in its annual report. Its share is not stated.",
    "sources": [
     {
      "label": "Blue Owl Real Estate Net Lease Trust — 10-K Exhibit 21.1 (SEC)",
      "url": "https://www.sec.gov/Archives/edgar/data/1944366/000194436626000020/exhibit211orent2025xlistof.htm"
     }
    ]
   },
   {
    "id": "orcl-leases",
    "ledger": 4,
    "label": "Oracle’s leases not yet on its balance sheet (company-wide)",
    "value": "$288,000,000,000",
    "kind": "stock",
    "tier": "primary",
    "date": "2026-08-31",
    "note": "Data-center leases expected to begin between 2026 and 2029, for fifteen to nineteen years. Oracle’s filings never say which are Project Jupiter.",
    "sources": [
     {
      "label": "Oracle — 10-Q for the quarter ended Aug 31 2026 (SEC)",
      "url": "https://www.sec.gov/Archives/edgar/data/1341439/000119312526389274/orcl-20260831.htm"
     }
    ]
   },
   {
    "id": "epe",
    "ledger": 5,
    "label": "Proposed power purchases from El Paso Electric",
    "value": "$10,000,000 a year for 10 years",
    "kind": "claim",
    "tier": "company",
    "date": "2026-10-13",
    "note": "For late-stage construction, commissioning, backup and life safety. The county’s chair says the connection is not allowed under the bonds as written.",
    "sources": [
     {
      "label": "Oracle — proposed agreement with El Paso Electric (Oct 13 2026)",
      "url": "https://www.oracle.com/news/announcement/oracle-proposes-plan-to-offset-customers-utility-costs-2026-10-13/"
     }
    ]
   },
   {
    "id": "credits",
    "ledger": 5,
    "label": "Proposed bill credits for El Paso Electric’s New Mexico customers",
    "value": "up to $55,000,000 a year, up to 3 years",
    "kind": "claim",
    "tier": "company",
    "date": "2026-10-13",
    "note": "A proposal, not yet a filed agreement.",
    "sources": [
     {
      "label": "Oracle — proposed agreement with El Paso Electric (Oct 13 2026)",
      "url": "https://www.oracle.com/news/announcement/oracle-proposes-plan-to-offset-customers-utility-costs-2026-10-13/"
     }
    ]
   }
  ],
  "clock": [
   {
    "year": 2026.99,
    "label": "The companies can drop the benefits agreement if they give up the tax break (by Dec 31, 2026)",
    "side": "companies",
    "tier": "primary",
    "source": {
     "label": "Community Benefits Agreement, executed (county PDF)",
     "url": "https://cms2.revize.com/revize/donaanacounty/Documents/About%20Us/Economic%20Development%20Projects/Community%20Benefits%20Agreement%20(CBA)%20Executed.pdf"
    }
   },
   {
    "year": 2029.9,
    "label": "The bank loan’s four-year term ends, with two one-year extensions (reported)",
    "side": "companies",
    "tier": "confirmed",
    "source": {
     "label": "Reuters, citing the Financial Times (Sept 18 2026)",
     "url": "https://lufkindailynews.com/news_reuters/business/oracles-18-billion-data-center-debt-under-pressure-ft-reports/article_fc96afce-ddbf-5371-94c4-efe85bf44087.html"
    }
   },
   {
    "year": 2030.75,
    "label": "The closure clawback ends (Oct 1, 2030, in the last public draft of the leases)",
    "side": "public",
    "tier": "caveated",
    "source": {
     "label": "Series 2025A lease, Oct 17 2025 draft (PDF)",
     "url": "https://haussamen.com/wp-content/uploads/2025/10/Lease-Agreement-Series-2025A-10.17-W5486783x7A92D.pdf"
    }
   },
   {
    "year": 2035.8,
    "label": "The gross-receipts-tax share and its clawback end (Oct 23, 2035)",
    "side": "public",
    "tier": "primary",
    "source": {
     "label": "LEDA Project Participation Agreement, executed (county PDF)",
     "url": "https://www.donaana.gov/Documents/About%20Us/Economic%20Development%20Projects/LEDA%20PPA%20GRT%20Share_Executed.pdf"
    }
   },
   {
    "year": 2037.5,
    "label": "The county’s $11.4 million guaranty expires (June 30, 2037)",
    "side": "public",
    "tier": "primary",
    "source": {
     "label": "IRB Series 2025C, executed & recorded (county PDF)",
     "url": "https://www.donaana.gov/Documents/About%20Us/Economic%20Development%20Projects/IRB%20Series%202025C%20-%20Executed%20%26%20Recorded.pdf"
    }
   },
   {
    "year": 2043.8,
    "label": "Oracle’s presence, as its presenters described it to the county: about 17.9 years",
    "side": "companies",
    "tier": "primary",
    "source": {
     "label": "Doña Ana County Commission recording, July 28 2026",
     "url": "https://www.youtube.com/watch?v=GfR50epEdtw&t=11310s"
    }
   },
   {
    "year": 2055.9,
    "label": "The 30-year property-tax abatement runs out",
    "side": "tax",
    "tier": "primary",
    "source": {
     "label": "County MOU, executed (PDF)",
     "url": "https://haussamen.com/wp-content/uploads/2025/12/Executed-Memorandum-of-Understanding-MOU.pdf"
    }
   }
  ],
  "influence_ladder": [
   {
    "n": 1,
    "name": "Lawful, disclosed influence",
    "where": "Most of the money sits here",
    "definition": "Contributions within the limits, registered lobbying, disclosed advertising. The Supreme Court: “Ingratiation and access, in any event, are not corruption.”",
    "defSource": {
     "label": "Citizens United v. FEC (2010), opinion (PDF)",
     "url": "https://www.law.cornell.edu/supct/pdf/08-205P.ZO"
    },
    "shows": "Company and executive contributions on the public register, seven or more registered lobbyists, a $3.44 million ad campaign disclosed to the Ethics Commission.",
    "notRuledOut": "Gifts under $1,000 were not searched name by name.",
    "establish": "A filing on the public register, within the limits.",
    "ruleOut": "Not applicable — this is the default for anything disclosed."
   },
   {
    "n": 2,
    "name": "Structural advantage and dependence",
    "where": "Documented, and legal",
    "definition": "An advantage the law allows: a few interests with a great deal at stake are organized and funded, the public that bears the cost is large and scattered, and the people deciding come to rely on those interests for something they need.",
    "shows": "Up to $3.3 billion in tax benefits on one side; the largest persuasion budgets aimed at one regulator’s one decision.",
    "notRuledOut": "How much officials rely on the companies for information or analysis.",
    "establish": "A lasting asymmetry, and officials relying on the influencer for something they need.",
    "ruleOut": "The affected public having comparable organized access; decisions that track the evidence."
   },
   {
    "n": 3,
    "name": "Capture",
    "where": "Conditions documented — capture not established",
    "definition": "A regulator that, over time, comes to serve the industry it regulates rather than the public.",
    "shows": "The deciding agency is a paying customer of a firm founded by the governor’s former economic development secretary; the agency sits inside the administration that promoted the project.",
    "notRuledOut": "A pattern of decisions that favors the industry against the evidence.",
    "establish": "Decisions that consistently favor the applicant against the evidence; revolving doors; dependence on the industry for staff or data.",
    "ruleOut": "The record also shows the agency raising adverse modeling questions, discovery partly reinstated, and the hearing reset to December 7."
   },
   {
    "n": 4,
    "name": "Conflict of interest",
    "where": "Structure documented — a legal conflict not established",
    "definition": "New Mexico law disqualifies a public officer from an official act directly affecting an ownership interest or employment held by the officer or family. Legislators are outside that definition.",
    "defSource": {
     "label": "NMSA Chapter 10 — Governmental Conduct Act, §10-16-2 and §10-16-4",
     "url": "https://nmonesource.com/nmos/nmsa/en/item/4364/index.do"
    },
    "shows": "Officials appearing in a contractor’s promotional video; a lobbyist who also sits on the regional development board. None is shown to hold the ownership or employment interest the statute requires.",
    "notRuledOut": "Financial interests not on any public disclosure.",
    "establish": "An ownership or employment interest held by the decider or family, and an official act affecting it.",
    "ruleOut": "No such interest; recusal."
   },
   {
    "n": 5,
    "name": "Collusion",
    "where": "No basis in the record",
    "definition": "In law, an agreement among competitors to restrain trade. Petitioning the government — even through publicity made to look spontaneous — is not collusion under the antitrust laws.",
    "defSource": {
     "label": "Eastern R.R. Presidents Conf. v. Noerr Motor Freight (1961)",
     "url": "https://www.law.cornell.edu/supremecourt/text/365/127"
    },
    "shows": "The companies are each other’s tenant, landlord, developer and lender — counterparties, not competitors. New Mexico’s remedy for a front group is disclosure, and it was enforced against Elevate.",
    "notRuledOut": "Political coordination among nominally separate campaigns has not been shown — or ruled out.",
    "establish": "Documents showing shared direction, funding or lists among campaigns that claimed to be separate.",
    "ruleOut": "Independent decision trails, separate vendors and funders."
   },
   {
    "n": 6,
    "name": "Fraud",
    "where": "An open state review — no one identified",
    "definition": "New Mexico’s identity-theft and forgery statutes are the nearest text. The Attorney General has charged no one and made no finding.",
    "defSource": {
     "label": "NM Attorney General — letter on the comment record (Oct 14 2026, PDF)",
     "url": "https://www.kob.com/wp-content/uploads/2026/10/10.14.2026-NMED-RE-Air-Quality-Permit-Application.pdf"
    },
    "shows": "About 10,000 of 17,419 comments share patterns the Attorney General says do not look like members of the public; about 4,700, mostly opposed, came from seventeen connections. The letter “does not establish who is responsible for any particular comment, and it does not characterize anyone’s intent.”",
    "notRuledOut": "Any actor, on either side.",
    "establish": "Who submitted each flagged comment, whether the named people authorized it, and the chain from submitter to whoever paid.",
    "ruleOut": "Verification that the named people authorized their comments, or a benign technical explanation."
   },
   {
    "n": 7,
    "name": "Bribery",
    "where": "Nothing in the record",
    "definition": "A thing of value tied to an official act by agreement. A meeting, “without more,” is not an official act — though it “could serve as evidence of an agreement.”",
    "defSource": {
     "label": "McDonnell v. United States (2016), slip opinion (PDF)",
     "url": "https://www.law.cornell.edu/supct/pdf/15-474.pdf"
    },
    "shows": "No filing, charge or finding alleges an exchange. Every item that looks like one is a date match only.",
    "notRuledOut": "Public filings cannot see private communications. Absence on the record is not proof of absence.",
    "establish": "An agreement linking a thing of value to an official act on a pending matter.",
    "ruleOut": "Decisions explained on the record by the evidence."
   }
  ],
  "holes": [
   "The assessed value taken off the county’s tax rolls.",
   "How much of the $165 billion ceiling, and of the reported $18 billion loan, has actually been drawn.",
   "Oracle’s rent, and its lease with the landlord companies.",
   "Blue Owl’s share of the landlord companies, and which of its funds hold the reported $3 billion.",
   "The executed lease agreements, with their clawbacks and force majeure terms as signed.",
   "The time horizon behind the LFC’s $3.3 billion, and whether it counts the payments in lieu of taxes.",
   "What Elevate New Mexico and Affordable NM did with money not yet reported as spent.",
   "Private communications — which no public filing can show."
  ]
 }
}