City of Albuquerque - File #: O-25-79

• File #: O-25-79
• Type: Ordinance
• Status: Adopted
• File created: 3/17/2025
• In control: City Council
• Final action: 4/7/2025
• Title: F/S Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Taxable Industrial Revenue Bond (Geltmore Karsten Project), Series 2025 In The Maximum Principal Amount Of $5,600,000 To Provide Funds To Acquire, Renovate, Improve And Equip A 56,000 Square Foot Building To Be Leased For Various Manufacturing Purposes; 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 (Baca, by request)
• Sponsors: Joaquin Baca (By Request)

Date	Action By	Action	Result
4/15/2025	City Council	Sent to Mayor for Signature
4/7/2025	City Council	Passed as Substituted	Pass
4/7/2025	City Council	Substituted	Pass
3/17/2025	City Council	Introduced
3/17/2025	President	To be heard at the Council Meeting

CITY of ALBUQUERQUE
TWENTY-SIXTH COUNCIL


COUNCIL BILL NO. F/S O-25-79 ENACTMENT NO. ________________________

SPONSORED BY: Joaqu?n Baca, by request


ORDINANCE
title
F/S Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Taxable Industrial Revenue Bond (Geltmore Karsten Project), Series 2025 In The Maximum Principal Amount Of $5,600,000 To Provide Funds To Acquire, Renovate, Improve And Equip A 56,000 Square Foot Building To Be Leased For Various Manufacturing Purposes; 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 (Baca, by request)
body
AUTHORIZING THE ISSUANCE AND SALE OF THE CITY OF ALBUQUERQUE, NEW MEXICO TAXABLE INDUSTRIAL REVENUE BOND (GELTMORE KARSTEN PROJECT), SERIES 2025 IN THE MAXIMUM PRINCIPAL AMOUNT OF $5,600,000 TO PROVIDE FUNDS TO ACQUIRE, RENOVATE, IMPROVE AND EQUIP A 56,000 SQUARE FOOT BUILDING TO BE LEASED FOR VARIOUS MANUFACTURING PURPOSES; 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 projects located within the c...