CITY of ALBUQUERQUE
TWENTIETH COUNCIL
COUNCIL BILL NO. R-12-48
ENACTMENT NO. R-2012-046
SPONSORED BY: Michael Cook, by request
RESOLUTION
CONSENTING TO THE TERMINATION AND DISSOLUTION OF THE QUORUM AT ABQ UPTOWN TAX INCREMENT DEVELOPMENT DISTRICT FORMED PURSUANT TO THE TAX INCREMENT FOR DEVELOPMENT ACT, SECTIONS 5-15-1 THROUGH 5-15-28, NMSA 1978; APPROVING THE TERMINATION OF THE TIDD DEVELOPMENT AGREEMENT; MAKING FINDINGS IN CONNECTION WITH THE TERMINATION AND DISSOLUTION OF THE TIDD AND THE TERMAINATION OF THE TIDD DEVELOPMENT AGREEMENT; TERMINATING THE CITY DEDICATIONS OF 70% OF THE GROSS RECEIPTS TAX INCREMENT REVENUE AND 75% OF THE PROPERTY TAX INCREMENT REVENUE ON A GOING FORWARD BASIS; REPEALING ALL ACTIONS INCONSISTENT WITH THIS RESOLUTION.
HCS Pub. June 8, 2012
