Daily Legal Notices:

Other Legal Notices:

Legal Display Ads

Latest News:

 

Search Results

City of Rio Rancho Notice of Adoption of Ordinance NOTICE IS HEREBY GIVEN, pursuant to the provisions of Section 6-14-6 NMSA 1978, that on September 10, 2020, the Governing Body of the City of Rio Rancho (the "City") adopted an ordinance which authorizes the execution and delivery of a loan agreement with the New Mexico Finance Authority in an aggregate principal amount of $15,150,000 to make improvements to City's Water and Wastewater Utility System. The title of the Ordinance is: ORDINANCE AN ORDINANCE AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AND SUBSIDY AGREEMENT ("LOAN AGREEMENT") BY AND BETWEEN THE CITY OF RIO RANCHO, NEW MEXICO (THE "CITY ") AND THE NEW MEXICO FINANCE AUTHORITY, EVIDENCING A SPECIAL LIMITED OBLIGATION OF THE CITY TO PAY A PRINCIPAL AMOUNT OF NOT TO EXCEED FIFTEEN MILLION ONE HUNDRED FIFTY THOUSAND DOLLARS ($15,150,000), TOGETHER WITH INTEREST, COSTS OF ISSUANCE AND ADMINISTRATIVE FEES THEREON, AND TO ACCEPT A LOAN SUBSIDY OF NOT MORE THAN FOUR HUNDRED SIXTY-EIGHT THOUSAND EIGHT HUNDRED SIXTY-ONE DOLLARS ($468,861), FOR THE PURPOSE OF FINANCING THE COSTS OF EXTENDING AND IMPROVING THE CITY'S WATER AND WASTEWATER UTILITY SYSTEM (THE "SYSTEM"), INCLUDING UPGRADES TO WELL #9; PROVIDING FOR THE PLEDGE AND PAYMENT OF THE PRINCIPAL, INTEREST AND ADMINISTRATIVE FEES DUE UNDER THE LOAN AGREEMENT SOLELY FROM NET REVENUES OF THE SYSTEM; SETTING A MAXIMUM INTEREST RATE FOR THE LOAN; APPROVING THE FORM OF AND OTHER DETAILS CONCERNING THE LOAN AGREEMENT; 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. The title contains a general summary of the subject matter contained in the Ordinance. This notice constitutes compliance with 6-14-6 NMSA 1978. Journal: September 16, 2020 Left-red    Print Legal   Email-red   Published on: Wed September 16, 2020