CITY of ALBUQUERQUE
TWENTY-FOURTH COUNCIL
COUNCIL BILL NO. F/S O-
21-84 ENACTMENT NO. ________________________
SPONSORED BY: COUNCILOR BASSAN AND COUNCILOR PENA
ORDINANCE
title
F/S Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Gross Receipts Tax Improvement Revenue Bonds In One Or More Series In An Aggregate Principal Amount Not To Exceed $110,000,000 To Finance The (1) Cost Of Designing, Developing, Constructing, Reconstructing, Rehabilitating, Renovating, Modernizing, Signing, Enhancing And Otherwise Improving Certain Capital Improvements, Including Road Infrastructure, Recreational Facilities, Affordable Housing, Public Safety, Property Acquisition And Public Buildings, And (2) Paying Expenses Related To Issuance Of The Bonds; Providing For The Payment Of The Series 2022 Bonds From Certain Gross Receipts Tax Revenues; Providing For The Collection Of Certain Gross Receipts Taxes; Approving The Delegation Of Authority To Make Certain Determinations Regarding The Sale Of The Series 2022 Bonds Pursuant To The Supplemental Public Securities Act; Providing For The Terms And Other Details Concerning The Series 2022 Bonds; Providing For Certain Documents Pertaining To The Series 2022 Bonds; Ratifying Action Previously Taken; Repealing All Actions Inconsistent With This Ordinance; Authorizing The Taking Of Other Actions In Connection With The Issue And Sale Of The Series 2022 Bonds (Bassan, Pe?a)
body
Capitalized terms used in the following preambles are defined in Section 1 of this Bond Ordinance, unless the context requires otherwise.
WHEREAS, the City is a legally and regularly created, established, organized and existing municipal corporation under the general laws of the State and its home rule charter; and
WHEREAS, the City has Home Rule Powers; and
WHEREAS, pursuant to Section 7-9-4 NMSA 1978, the State imposes a gross receipts tax on persons engaging in business in the State, and pursuant to Section 7-1-6.1 ...
Click here for full text