CITY of ALBUQUERQUE
TWENTY-FIFTH COUNCIL
COUNCIL BILL NO. O-22-52
ENACTMENT NO. O-2022-040
SPONSORED BY: Pat Davis, Tammy Fiebelkorn, Louie Sanchez, by request
ORDINANCE
CITY OF ALBUQUERQUE, Bernalillo COUNTY, NEW MEXICO
Notice of Adoption of Ordinance
Notice is hereby given of the title and of a general summary of the subject matter contained in Ordinance No.______, duly adopted and approved by the City Council of City of Albuquerque on [Date of Adoption of Ordinance]. A complete copy of the Ordinance is available for public inspection during normal and regular business hours in the office of the City Clerk, at Plaza del Sol, 600 2nd NW, 7th floor, Albuquerque, New Mexico 87102.
The title of the Ordinance is:
ORDINANCE
AUTHORIZING THE EXECUTION AND DELIVERY OF A WATER PROJECT FUND LOAN/GRANT AGREEMENTS BY AND BETWEEN THE NEW MEXICO FINANCE AUTHORITY (“FINANCE AUTHORITY”) AND THE CITY OF ALBUQUERQUE (THE “BORROWER/GRANTEE”), EVIDENCING AN OBLIGATION OF THE BORROWER/GRANTEE TO UTILIZE THE LOAN/GRANT AMOUNTs SOLELY FOR THE FOLLOWING PROJECTS: (1) RELINING OF IRRIGATION POND AT LADERA GOLF COURSE, IN THE TOTAL AMOUNT OF ONE HUNDRED TWENTY thousand dollars ($120,000), INCLUDING A LOAN IN THE AMOUNT OF TWELVE thousand dollars ($12,000); (2) RENOVATING THE IRRIGATION SYSTEM AT NETHERWOOD PARK, IN THE TOTAL AMOUNT OF Three HUNDRED thousand dollars ($300,000), INCLUDING A LOAN IN THE AMOUNT OF THIRTY thousand dollars ($30,000); AND (3) RENOVATING THE IRRIGATION SYSTEM AT PHIL CHACON PARK, IN THE TOTAL AMOUNT OF Nine hundred fifty thousand dollars ($950,000), INCLUDING A LOAN IN THE AMOUNT OF Ninety-five thousand dollars ($95,000), AND SOLELY IN THE MANNER DESCRIBED IN THE LOAN/GRANT AGREEMENTS; PROVIDING FOR THE PLEDGE AND PAYMENT OF THE LOAN AMOUNT AND AN ADMINISTRATIVE FEE SOLELY FROM THE revenues of the TAX DISTRIBUTIONS RECEIVED BY THE GOVERNMENTAL UNIT PURSUANT TO NMSA 1978, § 7-1-6.1, NMSA 1978, § 7-1-6.4, NMSA 1978, § 7-1-6.15, AND NMSA 1978, § 7-9-4, AS AMENDED; CERTIFYING THAT THE LOAN/GRANT AMOUNT, TOGETHER WITH OTHER FUNDS AVAILABLE TO THE BORROWER/GRANTEE, IS SUFFICIENT TO COMPLETE THE PROJECT; APPROVING THE FORM OF AND OTHER DETAILS CONCERNING THE LOAN/GRANT AGREEMENT; RATIFYING ACTIONS HERETOFORE TAKEN; REPEALING ALL ACTION INCONSISTENT WITH THIS RESOLUTION; AND AUTHORIZING THE TAKING OF OTHER ACTIONS IN CONNECTION WITH THE EXECUTION AND DELIVERY OF THE LOAN/GRANT AGREEMENT.
HCS Pub. December 16, 2022
