CITY of ALBUQUERQUE
NINETEENTH COUNCIL
COUNCIL BILL NO. ___F/S
O-10-33 ENACTMENT NO. __________________
SPONSORED BY: Ken Sanchez
ORDINANCE
t
F/S An Ordinance Authorizing The Execution of a Loan Agreement Between The City of Albuquerque and The New Mexico Finance Authority, Evidencing A Special, Limited Obligation of The City To Pay A Principal Amount of $1,441,625, Together With Interest Thereon, For The Purpose of Designing, Constructing, Equipping and Furnishing Fire Station No. 7; Providing For The Payment of The Principal of, and Interest Due Under The Loan Agreement Solely From A Pledge of Distributions of Fire Protection Fund Revenues Distributed By The State Treasurer (Sanchez)
b
AN ORDINANCE AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT AND INTERCEPT AGREEMENT BY AND BETWEEN THE CITY OF ALBUQUERQUE (THE “CITY”) AND THE NEW MEXICO FINANCE AUTHORITY, EVIDENCING A SPECIAL, LIMITED OBLIGATION OF THE CITY TO PAY A PRINCIPAL AMOUNT OF $1,441,625, TOGETHER WITH INTEREST THEREON, FOR THE PURPOSE OF DESIGNING, CONSTRUCTING, EQUIPPING AND FURNISHING FIRE STATION NO. 7 LOCATED WITHIN THE CITY AND PAYING A LOAN PROCESSING FEE; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL OF, AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM A PLEDGE OF DISTRIBUTIONS OF FIRE PROTECTION FUND REVENUES DISTRIBUTED BY THE STATE TREASURER TO THE CITY PURSUANT TO SECTION 59A-53-7 NMSA 1978; PROVIDING FOR THE DISTRIBUTIONS OF FIRE PROTECTION FUND REVENUES TO BE REDIRECTED BY THE STATE TREASURER TO THE NEW MEXICO FINANCE AUTHORITY OR ITS ASSIGNS FOR THE PAYMENT OF PRINCIPAL AND INTEREST DUE ON THE LOAN AGREEMENT PURSUANT TO AN INTERCEPT AGREEMENT; APPROVING THE FORMS OF THE LOAN AGREEMENT AND INTERCEPT 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 AND INTERCEPT AGREEMENT.
Capitalized te...
Click here for full text