City of Albuquerque
File #: O-12-29   
Type: Ordinance Status: Withdrawn
File created: 8/13/2012 In control: City Council
Final action: 9/5/2012
Enactment date: Enactment #:
Title: Authorizing The Issue And Sale Of A Maximum Principal Amount Of $50,000,000 City Of Albuquerque, New Mexico Gross Receipts Tax Improvement Revenue Bonds, For The Purpose Of Studying, Designing, Developing, Constructing, Reconstructing, Rehabilitating, Renovating, Modernizing, Signing, Enhancing, Landscaping And Otherwise Improving And Acquiring Property For The Paseo Del Norte And Interstate I-25 Interchange; Providing For The Payment Of The Bonds From Gross Receipts Tax Revenues; Making Appropriations; Authorizing The Taking Of Other Actions In Connection With The Issue And Sale Of The Bonds (Winter, Lewis)
Sponsors: Brad Winter, Dan Lewis
Attachments: 1. O-29.pdf
C I T Y of A L B U Q U E R Q U E
TWENTIETH COUNCIL
COUNCIL BILL NO. O-12-29 ENACTMENT NO. _________________
SPONSORED BY: Brad Winter & Dan Lewis
ORDINANCEt
Authorizing The Issue And Sale Of A Maximum Principal Amount Of $50,000,000 City Of Albuquerque, New Mexico Gross Receipts Tax Improvement Revenue Bonds, To Be Issued In One Or More Series For The Purpose Of Studying, Designing, Developing, Constructing, Reconstructing, Rehabilitating, Renovating, Modernizing, Signing, Enhancing, Landscaping And Otherwise Improving And Acquiring Property For The Paseo Del Norte And Interstate I-25 Interchange; Providing For The Payment Of The Bonds From Gross Receipts Tax Revenues; Providing For Certain Terms Or The Method Of Determining The Terms And Other Details Of The Bonds; Providing For Certain Documents Pertaining To The Bonds; Making Appropriations; Ratifying Action Previously Taken; Repealing All Actions Inconsistent With This Ordinance; And Authorizing The Taking Of Other Actions In Connection With The Issue And Sale Of The Bonds.
b
Capitalized terms used in the following preambles have the same meaning as attributed to them in Section 1.(A) of this Bond Ordinance unless the context requires otherwise.
WHEREAS, the City is a legally and regularly created, established, organized and existing municipal corporation with Home Rule Powers; and
WHEREAS, pursuant to Section 7-9-4 NMSA 1978, the State imposes a gross receipts tax on persons engaging in business in the State, and pursuant to Sections 7-1-6.1 and 7-1-6.4 NMSA 1978 the City receives monthly distributions from the New Mexico Taxation and Revenue Department of a portion (currently 1.225% of the taxable gross receipts reported for the City for the month for which such remittance is made) of such gross receipts taxes; and
WHEREAS, pursuant to Sections 7-1-6.1 and Section 7-1-6.46 NMSA 1978, the City receives monthly distributions from the New Mexico Taxation and Revenue Depa...

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