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BERNALILLO COUNTY NEW MEXICO NOTICE OF INTENT TO ADOPT ORDINANCE NOTICE IS HEREBY GIVEN of the title and general subject matter contained in an Ordinance which the Board of County Commissioners of Bernalillo County, New Mexico, the governing body of the County, intends to adopt at a regular meeting on or after February 12, 2019 at the hour of 5:00 p.m. at the County Commission/City Council Chambers, One Civic Plaza NW, Albuquerque, New Mexico 87102, relating to the authorization, issuance and sale by Bernalillo County, New Mexico of its Multifamily Housing Revenue Bonds (Valle del Rio Apartments Project), in one or more series of tax-exempt and/or taxable bonds, in the aggregate principal amount not to exceed $8,000,000. The title (subject to amendment or substitution) of the Ordinance is: BERNALILLO COUNTY, NEW MEXICO ORDINANCE NO. 2019-__ AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF BERNALILLO COUNTY, NEW MEXICO MULTIFAMILY HOUSING REVENUE BONDS (VALLE DEL RIO APARTMENTS PROJECT), IN ONE OR MORE SERIES OF TAX-EXEMPT AND/OR TAXABLE BONDS, IN AN AMOUNT NOT TO EXCEED $8,000,000 (THE "BONDS") FOR THE PURPOSE OF FINANCING THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF A 58-UNIT MULTIFAMILY HOUSING COMPLEX FOR RENTAL TO LOW- AND MODERATE- INCOME RESIDENTS TO BE LOCATED IN BERNALILLO COUNTY, NEW MEXICO (THE "COUNTY") TO PROVIDE HOUSING FOR LOW- AND MODERATE- INCOME RESIDENTS OF THE COUNTY TO BE KNOWN AS VALLE DEL RIO APARTMENTS; PAYING CERTAIN COSTS OF ISSUANCE OF THE BONDS, AND FUNDING THE PAYMENT OF CAPITALIZED INTEREST ON THE BONDS DURING CONSTRUCTION; PROVIDING FOR THE PAYMENT OF THE BONDS FROM REVENUES RECEIVED PURSUANT TO A LEASE AGREEMENT BETWEEN THE COUNTY AND DBG PROPERTIES LLC AND/OR THE BERNALILLO COUNTY AFFORDABLE HOUSING NONPROFIT, AND/OR AN AFFILIATE THEREOF, OR THEIR RESPECTIVE SUCCESSOR IN INTEREST ("LESSEE"); PROVIDING FOR THE FORM, EXECUTION, DELIVERY AND OTHER DETAILS CONCERNING THE BONDS, THE FUNDS APPERTAINING THERETO, THE INDENTURE OF TRUST, THE LEASE AGREEMENT, THE REGULATORY AGREEMENT; APPROVING OTHER DOCUMENTS RELATING TO THE BONDS; AND PROVIDING THAT THE COUNTY SHALL NOT BE PLEDGING ITS FAITH AND CREDIT TO THE PAYMENT OF THE BONDS; APPROVING AND RATIFYING ACTION PREVIOUSLY TAKEN IN CONNECTION THEREWITH. A general summary of the Ordinance is contained in its title. Complete copies of the proposed Ordinance will be on file and available for inspection at the offices of the County Clerk during regular business hours. Dated this 11th day of January, 2019. COUNTY OF BERNALILLO NEW MEXICO By: /s/ Linda Stover County Clerk Journal: January 11, 2019 Left-red    Print Legal   Email-red   Published on: Fri January 11, 2019