CITY of ALBUQUERQUE
TWENTY SIXTH COUNCIL
COUNCIL BILL NO. O-25-86 ENACTMENT NO. ________________________
SPONSORED BY: Ren?e Grout, by request
ORDINANCE
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Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Short-Term Lodgers' Tax Improvement Revenue Bonds, Taxable Series 2025 In An Aggregate Principal Amount Not To Exceed $1,000,000 For The Purpose Of Studying, Designing, Developing, Constructing, Reconstructing, Rehabilitating, Renovating, Modernizing, Signing, Enhancing And Otherwise Improving Tourist-Related Facilities And Attractions Located Within The City; Providing For The Payment Of The Series 2025 Bonds From Lodgers' Tax Revenues; Providing For The Collection Of Certain Lodgers' Tax Revenues; Approving The Delegation Of Authority To Make Certain Determinations Regarding The Sale Of The Series 2025 Bonds Pursuant To The Supplemental Public Securities Act; Providing For The Terms And Other Details Concerning The Series 2025 Bonds; Providing For Certain Documents Pertaining To The Series 2025 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 2025 Bonds (Grout, by request)
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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 Sections 3-38-1 et seq., NMSA 1978 and City Ordinance Enactment No. 68-1984, the City has imposed the Lodgers' Tax on revenues on lodging within the City or persons furnishing such lodging; and
WHEREAS, the City has previously sold and delivered Lodgers' Tax Obligations of which there remain O...
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