City of Albuquerque
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File #: O-21-58   
Type: Ordinance Status: In Council - Final Action
File created: 4/5/2021 In control: City Council
Final action:
Enactment date: Enactment #:
Title: Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Industrial Revenue Bond (Affordable Solar Project) Series 2021 In The Maximum Principal Amount Of $8,000,000 To Provide Funds To Finance The Acquisition, Renovation, Development, Improvement And Equipping Of A Facility For A Renewable Energy Production And Storage Technology Research And Development Company; 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 (Bassan, by request)
Attachments: 1. O-58
CITY of ALBUQUERQUE
TWENTY-FOURTH COUNCIL


COUNCIL BILL NO. O-21-58 ENACTMENT NO. ________________________

SPONSORED BY: Brook Bassan, by request


ORDINANCE
title
Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Industrial Revenue Bond (Affordable Solar Project) Series 2021 In The Maximum Principal Amount Of $8,000,000 To Provide Funds To Finance The Acquisition, Renovation, Development, Improvement And Equipping Of A Facility For A Renewable Energy Production And Storage Technology Research And Development Company; 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 (Bassan, by request)
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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 projects located within the corporate limits of the municipality for the purpose of promoting industry and trade by inducing commercial enterprises to locate or expand in the State of New Mexico; and
WHEREAS, pursuant to the Act, the City is authorized to issue revenue bonds for the purpose of defraying the cost of acquiring any project and to secure the payment of such bonds, all as provided in the Act; and
WHEREAS, Affordable Solar Installation, Inc. (the "Company") is a corporation organized under the laws of the State of New Mexico and is authorized to do business in New Mexico; and
WHEREAS, the Company has requested that the City iss...

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