CITY of ALBUQUERQUE
TWENTY SEVENTH COUNCIL
COUNCIL BILL NO. O-26-38 ENACTMENT NO. ________________________
SPONSORED BY: Joaquín Baca, by request
ORDINANCE
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Authorizing The Issuance And Sale Of The City Of Albuquerque, New Mexico Taxable Industrial Revenue Bond (Dreamcatcher Sawmill Hotel Project), Series 2026 In The Maximum Principal Amount Of $40,520,267 To Provide Funds To Acquire, Construct, Equip, And Improve The Dreamcatcher Sawmill Hotel, A Dual Branded Hampton Inn And Home2 Suites With An Anticipated 135 Guestrooms, And Associated Site Improvements; Authorizing The Execution And Delivery Of An Indenture, Lease Agreement, Bond Purchase Agreement, Bonds, And Other Documents In Connection With The Bonds; Making Certain Determinations And Findings Relating To The Bonds And The Project; Ratifying Certain Actions Taken Previously; And Repealing All Actions Inconsistent With This Ordinance (Baca, by request)
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AUTHORIZING THE ISSUANCE AND SALE OF THE CITY OF ALBUQUERQUE, NEW MEXICO TAXABLE INDUSTRIAL REVENUE BOND (DREAMCATCHER SAWMILL HOTEL PROJECT), SERIES 2026 IN THE MAXIMUM PRINCIPAL AMOUNT OF $40,520,267 TO PROVIDE FUNDS TO ACQUIRE, CONSTRUCT, EQUIP, AND IMPROVE THE DREAMCATCHER SAWMILL HOTEL, A DUAL BRANDED HAMPTON INN and HOME2 SUITES WITH AN ANTICIPATED 135 GUESTROOMS, AND ASSOCIATED SITE IMPROVEMENTS; AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE, LEASE AGREEMENT, BOND PURCHASE AGREEMENT, BONDS, AND OTHER DOCUMENTS IN CONNECTION WITH THE BONDS; MAKING CERTAIN DETERMINATIONS AND FINDINGS RELATING TO THE BONDS 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...
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