COUNCIL BILL NO. F/S O-19-77

CITY of ALBUQUERQUE

TWENTY-THIRD COUNCIL

COUNCIL BILL

NO. F/S O-19-77

ENACTMENT NO. O-2019-029

SPONSORED BY:  COUNCILOR DAVIS

ORDINANCE

AUTHORIZING THE ISSUANCE AND SALE OF THE CITY OF ALBUQUERQUE, NEW MEXICO TAX REFUNDING REVENUE BONDS IN TWO SERIES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $47,000,000: (I) GROSS RECEIPTS TAX/LODGERS’ TAX REFUNDING AND IMPROVEMENT REVENUE BONDS, SERIES 2019A IN THE MAXIMUM PRINCIPAL AMOUNT OF $37,000,000, AND (II) GROSS RECEIPTS TAX REFUNDING REVENUE BONDS, SERIES 2019B IN THE MAXIMUM PRINCIPAL AMOUNT OF $10,000,000 FOR THE PURPOSE OF (A) FINANCING THE COST OF REFUNDING THE CITY’S OUTSTANDING GROSS RECEIPTS TAX/LODGERS’ TAX REFUNDING REVENUE BONDS, SERIES 2009A AND THE CITY’S OUTSTANDING GROSS RECEIPTS TAX REFUNDING REVENUE BOND, SERIES 2009B, AND (B) STUDYING, DESIGNING, DEVELOPING, CONSTRUCTING, RECONSTRUCTING, REHABILITATING, RENOVATING, MODERNIZING, SIGNING, ENHANCING AND OTHERWISE IMPROVING TOURIST-RELATED FACILITIES AND ATTRACTIONS; PROVIDING FOR (i) THE PAYMENT OF THE SERIES 2019A BONDS FROM CERTAIN GROSS RECEIPTS TAX REVENUES AND LODGERS’ TAX REVENUES, AND (ii) THE PAYMENT OF THE SERIES 2019B BONDS FROM CERTAIN GROSS RECEIPTS TAX REVENUES; PROVIDING FOR THE COLLECTION OF CERTAIN LODGERS’ TAXES AND CERTAIN GROSS RECEIPTS TAXES; APPROVING THE DELEGATION OF AUTHORITY TO MAKE CERTAIN DETERMINATIONS REGARDING THE SALE OF THE SERIES 2019 BONDS PURSUANT TO THE SUPPLEMENTAL PUBLIC SECURITIES ACT; PROVIDING FOR THE TERMS AND OTHER DETAILS CONCERNING THE SERIES 2019 BONDS; PROVIDING FOR CERTAIN DOCUMENTS PERTAINING TO THE SERIES 2019 BONDS; RATIFYING ACTION PREVIOUSLY TAKEN; REPEALING ALL ACTIONS INCONSISTENT WITH THIS ORDINANCE;  AUTHORIZING THE TAKING OF OTHER ACTIONS IN CONNECTION WITH THE ISSUE AND SALE OF THE SERIES 2019 BONDS.

HCS Pub. November 1, 2019

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