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City of Rio Rancho, 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. O-12, duly adopted and approved by the Governing Body of the City of Rio Rancho, New Mexico, on July 12, 2017. Complete copies of the Ordinance are available for public inspection during normal and regular business hours in the office of the City Clerk, 3200 Civic Center Circle N.E., Rio Rancho, New Mexico 87144. The title of the Ordinance is: AN ORDINANCE AUTHORIZING THE EXECUTION AND DELIVERY OF AMENDMENTS TO THREE WATER RIGHTS ACQUISITION LOAN AGREEMENTS BY AND BETWEEN THE CITY OF RIO RANCHO, NEW MEXICO (THE "GOVERNMENTAL UNIT") AND THE NEW MEXICO FINANCE AUTHORITY, (THE "LOAN AGREEMENT AMENDMENTS") FOR THE PURPOSE OF RELEASING THE AMOUNTS ON DEPOSIT IN THE LOAN AGREEMENT RESERVE ACCOUNT REQUIRED BY EACH LOAN AGREEMENT AND REPLACING SAID FUNDS WITH A LOAN AGREEMENT RESERVE ACCOUNT INSURANCE POLICY WITH COVERAGE AMOUNTS EQUAL TO THE DEBT SERVICE RESERVE REQUIREMENT IN EACH OF THE THREE LOAN AGREEMENTS; APPROVING PROVISIONS REQUIRED BY BUILD AMERICA MUTUAL ASSURANCE COMPANY IN CONNECTION WITH THE DEBT SERVICE RESERVE ACCOUNT INSURANCE POLICIES; RATIFYING ACTIONS HERETOFORE TAKEN; REPEALING ALL ACTION INCONSISTENT WITH THIS ORDINANCE; AND AUTHORIZING THE TAKING OF OTHER ACTIONS IN CONNECTION WITH THE EXECUTION AND DELIVERY OF THE LOAN AGREEMENT AMENDMENTS. The title sets forth a general summary of the subject matter contained in the Ordinance. Journal: July 17, 2017 Left-red    Print Legal   Email-red   Published on: Mon July 17, 2017