CITY of ALBUQUERQUE
TWENTY THIRD COUNCIL
COUNCIL BILL NO. R-19-197 ENACTMENT NO. _____________________
SPONSORED BY: Klarissa J. Pe?a
RESOLUTION
title
Amending The Adopted Capital Implementation Program Of The City Of Albuquerque By Approving New Projects From The Proceeds Of City Of Albuquerque, New Mexico Gross Receipts Tax/Lodgers' Tax Refunding And Improvement Revenue Bonds Series 2019A (Pe?a)
body
AMENDING THE ADOPTED CAPITAL IMPLEMENTATION PROGRAM OF THE CITY OF ALBUQUERQUE BY APPROVING NEW PROJECTS FROM THE PROCEEDS OF CITY OF ALBUQUERQUE, NEW MEXICO GROSS RECEIPTS TAX/LODGERS' TAX REFUNDING AND IMPROVEMENT REVENUE BONDS SERIES 2019A.
WHEREAS, the Capital Implementation Program of the City of Albuquerque is governed by the requirements established under Section 2-12-4 ROA, 1994, which provides for amendments to the approved program; and
WHEREAS, the City just hosted a very successful National Senior Games with an estimated $34 million dollars in local impact; and
WHEREAS, the City wants to continue to attract regional and national recreational tourism and conventions; and
WHEREAS, sports and sport tourism is a major part of the City's effort to recruit large conference and events to Albuquerque; and
WHEREAS, the Council adopted Ordinance O-19-77 which authorized the issuance and sale of a maximum amount of $29,000,000 of City of Albuquerque, New Mexico Gross Receipts Tax/Lodgers' Tax Refunding And Improvement Revenue Bonds Series 2019A for various capital projects; and
WHEREAS, the Gross Receipts Tax Improvement Revenue Bonds authorized by O-19-77 will be priced and sold on or about October 16, 2019, with final terms of the bonds to be approved by a sale certificate; and
WHEREAS, the City Council wishes to make immediately available the bond proceeds for the capital projects appropriated in O-19-77; and
WHEREAS, e...
Click here for full text