City of Albuquerque - File #: O-19-80

• File #: O-19-80
• Type: Ordinance
• Status: Enacted
• File created: 9/18/2019
• In control: City Council
• Final action: 10/21/2019
• Enactment date: 11/19/2019
• Enactment #: O-2019-033
• Title: F/S Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Taxable Industrial Revenue Bond (Arrive Albuquerque Hotel Project) Series 2019 In The Maximum Principal Amount Of $20,800,000 To Provide Funds To Finance The Acquisition, Redevelopment, Renovation, Rehabilitation And Equipping Of A Hospitality Project; Authorizing The Execution And Delivery Of An Indenture, Lease Agreement, Bond Purchase Agreement, Bond, And Other Documents In Connection With The Issuance Of The Bond And The Project; Making Certain Determinations And Findings Relating To The Bond And The Project (Benton, by request)
• Sponsors: Isaac Benton (By Request)

Date	Action By	Action	Result
11/19/2019	City Clerk	Published
11/7/2019	Mayor	Signed by the Mayor
11/4/2019	City Council	Sent to Mayor for Signature
10/21/2019	City Council	Passed as Substituted	Pass
10/21/2019	City Council	Substituted	Pass
10/7/2019	City Council	Postponed	Pass
9/18/2019	City Council	Introduced
9/18/2019	President	To be heard at the Council Meeting

CITY of ALBUQUERQUE
TWENTY-THIRD COUNCIL


COUNCIL BILL NO. F/S O-19-80 ENACTMENT NO. ________________________

SPONSORED BY: Isaac Benton

ORDINANCE
title
F/S Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Taxable Industrial Revenue Bond (Arrive Albuquerque Hotel Project) Series 2019 In The Maximum Principal Amount Of $20,800,000 To Provide Funds To Finance The Acquisition, Redevelopment, Renovation, Rehabilitation And Equipping Of A Hospitality Project; Authorizing The Execution And Delivery Of An Indenture, Lease Agreement, Bond Purchase Agreement, Bond, And Other Documents In Connection With The Issuance Of The Bond And The Project; Making Certain Determinations And Findings Relating To The Bond And The Project (Benton, by request)
body
AUTHORIZING THE ISSUANCE AND SALE OF THE CITY OF ALBUQUERQUE, NEW MEXICO TAXABLE INDUSTRIAL REVENUE BOND (ARRIVE ALBUQUERQUE HOTEL PROJECT) SERIES 2019 IN THE MAXIMUM PRINCIPAL AMOUNT OF $20,800,000 TO PROVIDE FUNDS TO FINANCE THE ACQUISITION, REDEVELOPMENT, RENOVATION, REHABILITATION AND EQUIPPING OF A HOSPITALITY PROJECT; AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE, LEASE AGREEMENT, BOND PURCHASE AGREEMENT, BOND, AND OTHER DOCUMENTS IN CONNECTION WITH THE ISSUANCE OF THE BOND AND THE PROJECT; MAKING CERTAIN DETERMINATIONS AND FINDINGS RELATING TO THE BOND AND THE PROJECT; RATIFYING CERTAIN ACTIONS TAKEN PREVIOUSLY; AND REPEALING ALL ACTIONS INCONSISTENT WITH THIS ORDINANCE.
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 bond projects located within the corporate limits of the municipality for the purpose of promoting industry and trade by inducing commercial enter...