CITY OF ALBUQUERQUE
TWENTIETH COUNCIL
COUNCIL BILL NO.
O-12-37 ENACTMENT NO. ________________________
SPONSORED BY: Dan Lewis, by request
ORDINANCE
t
Relating To Special Assessment District No. 228; Authorizing The City To Issue Bonds In The Form Of The Special Assessment District No. 228 Loan Agreements In An Aggregate Principal Amount Not To Exceed $27,098,175 And To Enter Into The Loan Agreements To Finance Certain Street, Water, Sanitary Sewer, Storm Drainage And Private Utility Improvements Within The District, Payable From District Special Assessments; Providing For The Collection Of District Special Assessments; Approving The Forms, Terms And Conditions Of The Loan Agreements; Ratifying Certain Actions; And Repealing All Actions Inconsistent With This Ordinance (Lewis, by request)
b
RELATING TO CITY OF ALBUQUERQUE, NEW MEXICO, SPECIAL ASSESSMENT DISTRICT NO. 228; PROVIDING FOR AND AUTHORIZING THE CITY TO ISSUE BONDS IN THE FORM OF THE SPECIAL ASSESSMENT DISTRICT NO. 228 LOAN AGREEMENTS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $27,098,175 AND TO ENTER INTO THE LOAN AGREEMENTS WITH THE LENDER TO FINANCE CERTAIN STREET, WATER, SANITARY SEWER, STORM DRAINAGE AND PRIVATE UTILITY IMPROVEMENTS WITHIN THE DISTRICT, PAYABLE FROM DISTRICT SPECIAL ASSESSMENTS; PROVIDING FOR THE COLLECTION OF DISTRICT SPECIAL ASSESSMENTS; APPROVING THE FORMS, TERMS AND CONDITIONS OF THE LOAN AGREEMENTS; RATIFYING CERTAIN ACTIONS HERETOFORE TAKEN; AND REPEALING ALL ACTIONS INCONSISTENT WITH THIS ORDINANCE.
WHEREAS, capitalized terms used in the following preambles have the same meaning as defined in Section 1 of this Debt Ordinance unless the context requires otherwise; and
WHEREAS, the Council has provided for and ordered the Improvements in the District and has levied valid assessments to defray the cost of the Street Improvements in the total amount of $13,272,534 against the property specially benefited by the Street Improveme...
Click here for full text