CITY of ALBUQUERQUE
TWENTY SEVENTH COUNCIL
COUNCIL BILL NO. O-26-38 ENACTMENT NO. ________________________
SPONSORED BY: Joaqu?n Baca, by request
ORDINANCE
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Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Taxable Industrial Revenue Bond (Dreamcatcher Sawmill Hotel Project), Series 2026 In The Maximum Principal Amount Of $40,520,267 To Provide Funds To Acquire, Construct, Equip, And Improve The Dreamcatcher Sawmill Hotel, A Dual Branded Hampton Inn And Home2 Suites With An Anticipated 135 Guestrooms, And Associated Site Improvements; Authorizing The Execution And Delivery Of An Indenture, Lease Agreement, Bond Purchase Agreement, Bonds, And Other Documents In Connection With The Bonds; Making Certain Determinations And Findings Relating To The Bonds And The Project; Ratifying Certain Actions Taken Previously; And Repealing All Actions Inconsistent With This Ordinance (Baca, by request)
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WHEREAS, the City of Albuquerque (the "City") is a legally and regularly created, established, organized, and existing municipal corporation of the State of New Mexico (the "State"); and
WHEREAS, pursuant to Sections 3-32-1 through 3-32-16, New Mexico Statutes Annotated, 1978 Compilation, as amended (the "Act"), the City is authorized to acquire industrial revenue projects located within the corporate limits of the municipality for the purpose of promoting industry and trade by inducing commercial enterprises to locate or expand in the State of New Mexico; and
WHEREAS, pursuant to the Act, the City is authorized to issue revenue bonds for the purpose of defraying the cost of acquiring any project and to secure the payment of such bonds, all as provided in the Act; and
WHEREAS, Dreamcatcher Sawmill, LLC (together with its successors, assigns and affiliates, the "Company") is a limited liability company formed under the laws of the State of New Mexico and is authorized to do business in New Mexico; and
WHEREAS, ...
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