CITY of ALBUQUERQUE
TWENTY SEVENTH COUNCIL
COUNCIL BILL NO. R-26-54 ENACTMENT NO.
SPONSORED BY: Joaquín Baca
RESOLUTION
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A Resolution Authorizing The Execution And Delivery Of A Water Project Fund Grant Agreement By And Between The New Mexico Finance Authority (“NMFA”) And The City Of Albuquerque (The “Grantee”), In The Total Amount Of $6,160,000, Evidencing An Obligation Of The Grantee To Utilize The Grant Amount Solely For The Purpose Of Financing The Costs Of Design And Construction Of John St. Pump Station And Gravity Pond, Diversion Of Williams St. 72-Inch Storm Drain And Broadway Blvd. 66-Inch Storm Drain And Upsizing Storm Drain In Barelas Ditch To A 30-Inch Pipe; And Solely In The Manner Described In The Grant Agreement; Certifying That The Grant Amount, Together With Other Funds Available To The Grantee, Is Sufficient To Complete The Project; Approving The Form Of And Other Details Concerning The 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 Grant Agreement (Baca)
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A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A WATER PROJECT FUND GRANT AGREEMENT BY AND BETWEEN THE NEW MEXICO FINANCE AUTHORITY (“NMFA”) AND THE CITY OF ALBUQUERQUE (THE “GRANTEE”), IN THE TOTAL AMOUNT OF $6,160,000, EVIDENCING AN OBLIGATION OF THE GRANTEE TO UTILIZE THE GRANT AMOUNT SOLELY FOR THE PURPOSE OF FINANCING THE COSTS OF DESIGN AND CONSTRUCTION OF JOHN ST. PUMP STATION AND GRAVITY POND, DIVERSION OF WILLIAMS ST. 72-INCH STORM DRAIN AND BROADWAY BLVD. 66-INCH STORM DRAIN AND UPSIZING STORM DRAIN IN BARELAS DITCH TO A 30-INCH PIPE; AND SOLELY IN THE MANNER DESCRIBED IN THE GRANT AGREEMENT; CERTIFYING THAT THE GRANT AMOUNT, TOGETHER WITH OTHER FUNDS AVAILABLE TO THE GRANTEE, IS SUFFICIENT TO COMPLETE THE PROJECT; APPROVING THE FORM OF AND OTHER DETAILS CONCERNING THE 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 GRANT AGREEMENT.
Capitalized terms used in the following preambles have the same meaning as defined in this Resolution unless the context requires otherwise.
WHEREAS, the Grantee is a legally and regularly created, established, duly organized and existing municipal corporation under and pursuant to the laws of the State and more specifically, Article 10 Section 6 of the New Mexico Constitution, Municipal Home Rule, and the Municipal Code, NMSA 1978, §§ 3-1-1 through 3-66-11, as amended, is a qualifying entity under the Water Project Finance Act, and is qualified for financial assistance as determined by the NMFA and approved by the Water Trust Board pursuant to the Board Rules, the Policies and the Act; and
WHEREAS, pursuant to the Board Rules, the Water Trust Board has recommended the Project for funding as a Qualifying Project to the Legislature; and
WHEREAS, Chapter 35, Laws 2025, being House Bill 206, of the 2025 Regular New Mexico Legislative Session, authorized the funding of the Project from the Water Project Fund; and
WHEREAS, the Water Trust Board has recommended that the NMFA enter into and administer the Grant Agreement in order to finance the Project; and
WHEREAS, the NMFA approved on May 22, 2025, that the Grantee receive financial assistance in the form of the Grant; and
WHEREAS, the Governing Body has determined and hereby determines that the Project may be financed with amounts granted pursuant to the Grant Agreement, that the Grant Amount, together with the Additional Funding Amount and other moneys available to the Grantee, is sufficient to complete the Project, and that it is in the best interest of the Grantee and the constituent public it serves that the Grant Agreement be executed and delivered and that the funding of the Project take place by executing and delivering the Grant Agreement; and
WHEREAS, the Governing Body has determined that it may lawfully enter into the Grant Agreement, accept the Grant Amount and be bound to the obligations and by the restrictions thereunder; and
WHEREAS, the Grant Agreement shall not constitute a general obligation of the Grantee, the Water Trust Board or the NMFA or a debt or pledge of the full faith and credit of the Grantee, the Water Trust Board, the NMFA or the State; and
WHEREAS, there have been presented to the Governing Body and there presently are on file with the City Clerk this Resolution and the form of the Grant Agreement which is incorporated by reference and considered to be a part hereof; and
WHEREAS, the Governing Body hereby determines that the Additional Funding Amount is now available to the Grantee to complete the Project; and
WHEREAS, the Grantee has met or will meet prior to the first disbursement of any portion of the Grant Amount, the Conditions and readiness to proceed requirements established for the portion of the Grant Amount disbursed or caused to be disbursed by the NMFA, including but not limited to the requirements of Executive Order 2013-006; and
WHEREAS, all required authorizations, consents and approvals in connection with (i) the use of the Grant Amount for the purposes described, and according to the restrictions set forth, in the Grant Agreement; (ii) the availability of other moneys necessary and sufficient, together with the Grant Amount, to complete the Project; and (iii) the authorization, execution and delivery of the Grant Agreement which are required to have been obtained by the date of this Resolution, have been obtained or are reasonably expected to be obtained.
BE IT RESOLVED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
SECTION 1. DEFINITIONS. As used in this Resolution, the following terms shall, for all purposes, have the meanings herein specified, unless the context clearly requires otherwise (such meanings to be equally applicable to both the singular and the plural forms of the terms defined); and, any term not defined herein shall have the definition given it by the Grant Agreement:
“Act” means the general laws of the State, particularly the Water Project Finance Act, NMSA 1978, §§ 72-4A-1 through 72-4A-11, and enactments of the Governing Body relating to the Grant Agreement, including this Resolution, all as amended and supplemented.
“Additional Funding Amount” means the amount to be provided by the Grantee which includes the total value of the Soft Match or Hard Match (each as defined in Section 4.2 of the Policies) which, in combination with the Grant Amount and other moneys available to the Grantee, is sufficient to complete the Project and to provide matching funds required to complete the Project. The Additional Funding Amount is $2,099,943 from the General Obligation Bonds Fund or other legally available funds of the Grantee.
“Authorized Officers” means any one or more of the Mayor, Chief Administrative Officer, Chief Financial Advisor, Director of Department of Finance and Administrative Services, Treasurer and City Clerk of the Grantee.
“Board Rules” means Review and Eligibility of Proposed Water Projects, New Mexico Water Trust Board, 19.25.10 NMAC.
“Closing Date” means the date of execution and delivery of the Grant Agreement by the Grantee and the NMFA.
“Completion Date” means the date of final payment of the cost of the Project.
“Conditions” has the meaning given to that term in the Grant Agreement.
“Eligible Items” means eligible Project costs for which grants and loans may be made pursuant to NMSA 1978, § 72-4A-7(C), as amended, of the Act, the Board Rules and applicable Policies, and includes, without limitation, Eligible Legal Costs.
“Eligible Legal Costs” has the meaning given to that term in the Grant Agreement.
“Generally Accepted Accounting Principles” means the officially established accounting principles applicable to the Grantee consisting of the statements, determinations and other official pronouncements of the Government Accounting Standards Board, Financial Accounting Standards Board, Federal Accounting Standards Board or other principle-setting body acceptable to the NMFA establishing accounting principles applicable to the Grantee.
“Governing Body” means the duly organized City Council of the Grantee, or any successor governing body of the Grantee.
“Grant Agreement” means the Water Project Fund Grant Agreement entered into by and between the Grantee and the NMFA as authorized by this Resolution.
“Grant” or “Grant Amount” means the amount provided to the Grantee as a grant pursuant to the Grant Agreement for the purpose of funding the Project and shall not equal more than $6,160,000.
“Grantee” means the City of Albuquerque in Bernalillo County, New Mexico.
“Herein,” “hereby,” “hereunder,” “hereof,” “hereinabove” and “hereafter” refer to this entire Resolution and not solely to the particular section or paragraph of this Resolution in which such word is used.
“NMAC” means the New Mexico Administrative Code.
“NMFA” means the New Mexico Finance Authority.
“NMSA 1978” means the New Mexico Statutes Annotated, 1978 Compilation, as amended and supplemented from time to time.
“Project” means the project(s) described on the Term Sheet.
“Project Account” means the book account established by the NMFA in the name of the Grantee for purposes of tracking expenditure of the Grant Amount by the Grantee to pay for the costs of the Project, as shown in the Term Sheet, which account shall be kept separate and apart from all other accounts of the NMFA.
“Qualifying Water Project” means a water project for (i) storage, conveyance or delivery of water to end-users; (ii) implementation of the federal Endangered Species Act of 1973 collaborative programs; (iii) wastewater conveyance and treatment; (iv) restoration and management of watersheds; (v) flood prevention; or, (vi) water conservation or recycling, treatment or reuse of water as provided by law; and which has been approved by the state legislature pursuant to NMSA 1978, § 72-4A-9(B), as amended.
“Resolution” means this Resolution as it may be supplemented or amended from time to time.
“State” means the State of New Mexico.
“Term Sheet” means Exhibit “A” attached to the Grant Agreement.
“Useful Life” means the structural and material design life of the Project, including planning and design features as required by the Act and the Board Rules.
“Water Project Fund” means the fund of the same name created pursuant to the Act and held and administered by the NMFA.
“Water Trust Board” or “WTB” means the water trust board created and established pursuant to the Act.
SECTION 2. RATIFICATION. All action heretofore taken (not inconsistent with the provisions of this Resolution) by the Grantee and officers of the Grantee directed toward the acquisition and completion of the Project, and the execution and delivery of the Grant Agreement shall be, and the same hereby is, ratified, approved and confirmed.
SECTION 3. AUTHORIZATION OF THE PROJECT AND THE GRANT AGREEMENT. The acquisition and completion of the Project and the method of funding the Project through execution and delivery of the Grant Agreement and the other documents related to the transaction are hereby authorized and ordered. The Project is for the benefit and use of the Grantee and the public whom it serves.
SECTION 4. FINDINGS. The Governing Body hereby declares that it has considered all relevant information and data and hereby makes the following findings:
A. The Project is needed to meet the needs of the Grantee and the public whom it serves.
B. Moneys available and on hand for the Project from all sources other than the Grant are not sufficient to defray the cost of acquiring and completing the Project but, together with the Grant Amount, are sufficient to complete the Project.
C. The Project and the execution and delivery of the Grant Agreement pursuant to the Act to provide funds for the financing of the Project are necessary, convenient and in furtherance of the governmental purposes of the Grantee, and in the interest of the public health, safety, and welfare of the constituent public served by the Grantee.
D. The Grantee will acquire and complete the Project with the proceeds of the Grant, the Additional Funding Amount and other amounts available to the Grantee, and except as otherwise expressly provided by the Grant Agreement, will utilize, operate and maintain the Project for the duration of its Useful Life, as required by NMSA 1978, § 72-4A-7(A)(1), as amended.
E. Together with the Grant Amount, and other amounts available to the Grantee, the Additional Funding Amount is now available to the Grantee, and in combination with the Grant Amount, will be sufficient to complete the Project.
F. The NMFA shall maintain on behalf of the Grantee a separate Project Account as a book account only on behalf of the Grantee and financial records in accordance with Generally Accepted Accounting Principles during the construction or implementation of the Project.
G. The Grantee has acquired title to or easements or rights-of-way on the real property upon which the Project is being constructed or located as provided in the Grant Agreement.
SECTION 5. GRANT AGREEMENT-AUTHORIZATION AND DETAIL.
A. AUTHORIZATION. This Resolution has been adopted by the affirmative vote of at least a majority of all of the members of the Governing Body. For the purpose of protecting the public health, conserving the property, and protecting the general welfare and prosperity of the constituent public served by the Grantee and acquiring and completing the Project, it is hereby declared necessary that the Grantee execute and deliver the Grant Agreement evidencing the Grantee’s acceptance of the Grant Amount of $6,160,000 to be utilized solely for Eligible Items necessary to complete the Project, and solely in the manner and according to the restrictions set forth in the Grant Agreement, the execution and delivery of which is hereby authorized. The Grantee shall use the Grant Amount to finance the acquisition and completion of the Project.
B. DETAIL. The Grant Agreement shall be in substantially the form of the Grant Agreement presented at the meeting of the Governing Body at which this Resolution was adopted. The Grant shall be in the amount of $6,160,000.
SECTION 6. APPROVAL OF GRANT AGREEMENT. The form of the Grant Agreement as presented at the meeting of the Governing Body at which this Resolution was adopted, is hereby approved. Authorized Officers are hereby individually authorized to execute, acknowledge and deliver the Grant Agreement with such changes, insertions and omissions as may be approved by such individual Authorized Officers, and the City Clerk is hereby authorized to attest the Grant Agreement. The execution of the Grant Agreement shall be conclusive evidence of such approval.
SECTION 7. DISPOSITION OF PROCEEDS: COMPLETION OF THE PROJECT.
A. PROJECT ACCOUNT. The Grantee hereby consents to creation of the Project Account by the NMFA. Until the Completion Date, the amount of the Grant credited to the Project Account shall be used and paid out solely for Eligible Items necessary to acquire and complete the Project in compliance with applicable law and the provisions of the Grant Agreement.
B. COMPLETION OF THE PROJECT. The Grantee shall proceed to complete the Project with all due diligence. Upon the Completion Date, the Grantee shall execute a certificate stating that completion of and payment for the Project has been completed. Following the Completion Date or the earlier expiration of the time allowed for disbursement of Grant funds as provided in the Grant Agreement, any balance remaining in the Project Account shall be transferred and deposited into the Water Project Fund or otherwise distributed as provided in the Grant Agreement.
C. NMFA NOT RESPONSIBLE. Grantee shall apply the funds derived from the Grant Agreement as provided therein, and in particular Article VII of the Grant Agreement. The NMFA shall not in any manner be responsible for the application or disposal by the Grantee or by its officers of the funds derived from the Grant Agreement or of any other funds held by or made available to the Grantee in connection with the Project. NMFA shall not be liable for the refusal or failure of any other agency of the State to transfer any portion of the Grant Amount in its possession, custody and control to the NMFA for disbursement to the Grantee, or to honor any request for such transfer or disbursement of the Grant Amount.
SECTION 8. AUTHORIZED OFFICERS. Authorized Officers are hereby individually authorized and directed to execute and deliver any and all papers, instruments, opinions, affidavits and other documents and to do and cause to be done any and all acts and things necessary or proper for carrying out this Resolution, the Grant Agreement and all other transactions contemplated hereby and thereby. Authorized Officers are hereby individually authorized to do all acts and things required of them by this Resolution and the Grant Agreement for the full, punctual and complete performance of all the terms, covenants and agreements contained in this Resolution and the Grant Agreement including but not limited to, the execution and delivery of closing documents in connection with the execution and delivery of the Grant Agreement.
SECTION 9. AMENDMENT OF RESOLUTION. This Resolution after its adoption may be amended without receipt by the Grantee of any additional consideration, but only with the prior written consent of the NMFA.
SECTION 10. RESOLUTION IRREPEALABLE. After the Grant Agreement has been executed and delivered, this Resolution shall be and remain irrepealable until all obligations due under the Grant Agreement shall be fully discharged, as herein provided.
SECTION 11. SEVERABILITY CLAUSE. If any section, paragraph, clause or provision of this Resolution shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Resolution.
SECTION 12. REPEALER CLAUSE. All bylaws, orders, ordinances, resolutions, or parts thereof, inconsistent herewith are hereby repealed to the extent only of such inconsistency. This repealer shall not be construed to revive any bylaw, order, resolution or ordinance, or part thereof, heretofore repealed.
SECTION 13. EFFECTIVE DATE. Upon due adoption of this Resolution, it shall be recorded in the book of the Grantee kept for that purpose, authenticated by the signatures of the Chief Administrative Officer and City Clerk of the Grantee, and this Resolution shall be in full force and effect thereafter, in accordance with law; provided, however, that if recording is not required for the effectiveness of this Resolution, this Resolution shall be effective upon adoption of this Resolution by the Governing Body.
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