CITY of ALBUQUERQUE
TWENTY FOURTH COUNCIL
COUNCIL BILL NO. O-21-73 ENACTMENT NO. ________________________
SPONSORED BY: Isaac Benton, by request
ORDINANCE
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Amending The Development Commission Ordinance To Remove Reference To The State Metropolitan Development Code And End The Development Commission's Role Regarding The Metropolitan Redevelopment Agency And Urban Development Agency (Benton, by request)
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BE IT ORDAINED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
SECTION 1. Amending Chapter 14, Article 8, Part 6 of the Development Commission Ordinance, as follows:
"? 14-8-6-1 DEFINITIONS.
For the purpose of this ?? 14-8-6-1 et seq., the following definitions shall apply unless the context clearly indicates or requires a different meaning.
BONDS. Any bond, debenture, note, refunding or renewal bond or note, warrant or other security evidencing an obligation the proceeds of which, or a major portion thereof, are to be used in the trade or business carried on by someone other than the city and which are authorized to be issued by the city pursuant to the Industrial Revenue Bond Act (Sections 3-32-1 to 3-32-16 NMSA 1978, as amended from time to time); [the Metropolitan Development Code (Sections 3-60A-1 to -3-60A-48 NMSA 1978, as amended from time to time] or pursuant to the home rule powers of the city given by Article X, Section 6 of the New Mexico Constitution and the city's Charter.
INDUCEMENT RESOLUTION. A resolution of the Council setting forth its good-faith intent to issue bonds upon the prior satisfaction of all applicable land use and development requirements of the city, other than the issuance of a building permit.
PROJECT PLAN. The plan describing a project, which shall include a general description and location of the project, the number and type of new jobs to be created, the estimated percentage of jobs to be filled by persons who are residents of the city on the date of ...
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