COUNCIL BILL NO. F/S O-18-26

CITY of ALBUQUERQUE
TWENTY-THIRD COUNCIL
COUNCIL BILL NO.
F/S O-18-26
ENACTMENT NO.
O-2018-018
SPONSORED BY: Isaac Benton, by request
ORDINANCE
RELATING TO THE REDEVELOPMENT, LEASING AND SALE OF A METROPOLITAN REDEVELOPMENT PROJECT AND THE ISSUANCE OF METROPOLITAN REDEVELOPMENT REVENUE BONDS PAYABLE FROM RENTAL PAYMENTS THEREFOR; APPROVING THE METROPOLITAN REDEVELOPMENT APPLICATION ENTITLED “BANK OF THE WEST METROPOLITAN REDEVELOPMENT BOND APPLICATION”; AUTHORIZING THE ACQUISITION OF LAND AND EXISTING IMPROVEMENTS AND CONSTRUCTION OF A BUILDING WITHIN THE DOWNTOWN 2025 METROPOLITAN REDEVELOPMENT AREA; AUTHORIZING THE DISPOSITION BY LEASE AND SALE OF THE CITY’S INTEREST IN SUCH PROJECT TO ROMA FOURTH CAPITAL, LLC, ITS SUCCESSORS AND ASSIGNS; AUTHORIZING THE ISSUANCE AND SALE OF THE CITY OF ALBUQUERQUE, NEW MEXICO METROPOLITAN REDEVELOPMENT REVENUE BONDS (BANK OF THE WEST CENTER PROJECT) SERIES 2018 IN THE MAXIMUM PRINCIPAL AMOUNT OF $30,000,000 TO PROVIDE FUNDS TO FINANCE A PORTION OF THE COSTS OF THE ACQUISITION AND CONSTRUCTION OF THE PROJECT; AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE, LEASE AGREEMENT, BOND PURCHASE AGREEMENT, THE BONDS, AND OTHER DOCUMENTS IN CONNECTION WITH THE ISSUANCE OF THE BONDS AND THE PROJECT; MAKING CERTAIN DETERMINATIONS AND FINDINGS RELATING TO THE BONDS AND THE PROJECT; RATIFYING CERTAIN ACTIONS TAKEN PREVIOUSLY; AND REPEALING ALL ACTIONS INCONSISTENT WITH THIS ORDINANCE.
HCS Pub. September 21, 2018

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