CITY of ALBUQUERQUE
TWENTY-FOURTH COUNCIL
COUNCIL BILL
NO. F/S O-20-31
ENACTMENT NO. O-2020-029
SPONSORED BY: COUNCILOR BENTON
ORDINANCE
AUTHORIZING THE ISSUANCE AND SALE OF THE CITY OF ALBUQUERQUE, NEW MEXICO TRANSPORTATION INFRASTRUCTURE GROSS RECEIPTS TAX IMPROVEMENT REVENUE BONDS, SERIES 2020 IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $50,000,000 FOR THE PURPOSE OF (1) FINANCING THE COST OF DESIGNING, DEVELOPING, CONSTRUCTING, RECONSTRUCTING, REHABILITATING, RENOVATING, MODERNIZING, SIGNING, ENHANCING AND OTHERWISE IMPROVING TRANSPORTATION SYSTEMS, INCLUDING ROAD INFRASTRUCTURE IMPROVEMENTS, TRAILS AND BIKEWAYS AND TRANSIT, FOR THE BENEFIT OF THE CITY (2) FUNDING THE CAPITALIZED INTEREST FUND, AND (3) PAYING EXPENSES RELATED TO ISSUANCE OF THE BONDS; PROVIDING FOR THE PAYMENT OF THE SERIES 2020 BONDS FROM THE REVENUES OF A MUNICIPAL GROSS RECEIPTS TAX IMPOSED AT A RATE OF 0.25% PURSUANT TO CITY ORDINANCE NO. O-20-14 ENACTMENT NO. O-2020-016 ADOPTED ON MAY 18, 2020; APPROVING THE DELEGATION OF AUTHORITY TO MAKE CERTAIN DETERMINATIONS REGARDING THE SALE OF THE SERIES 2020 BONDS PURSUANT TO THE SUPPLEMENTAL PUBLIC SECURITIES ACT; PROVIDING FOR THE TERMS AND OTHER DETAILS CONCERNING THE SERIES 2020 BONDS; PROVIDING FOR CERTAIN DOCUMENTS PERTAINING TO THE SERIES 2020 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 2020 BONDS.
HCS Pub. September 25, 2020
