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Notice of Publication

City of Albuquerque Twenty-Fourth Council

Council Bill No: O-20-44

Enactment No:O-2020-043

Sponsored By: Councilor Davis

ORDINANCE

APPROVING A PROJECT INVOLVING A MULTINATIONAL COMPANY, NETFLIX STUDIOS LLC, PURSUANT TO THE LOCAL ECONOMIC DEVELOPMENT ACT AND CITY ORDINANCE FIS 0-04-10, THE CITY'S IMPLEMENTING LEGISLATION FOR THAT ACT, TO SUPPORT THE ACQUISITION, CONSTRUCTION, IMPROVEMENT AND REHABILITATION OF ENTERTAINMENT PRODUCTION FACILITIES AND RELATED REAL PROPERTY LOCATED IN ALBUQUERQUE, NEW MEXICO; AUTHORIZING THE EXECUTION OF A PROJECT PARTICIPATION AGREEMENT AND OTHER DOCUMENTS IN CONNECTION WITH THE PROJECT INCLUDING THE INCORPORATION OF THE COMPANY'S EXISTING PROJECT PARTICIPATION AGREEMENT INTO THE NEW AGREEMENT; MAKING CERTAIN DETERMINATIONS AND FINDINGS RELATING TO THE PROJECT; RATIFYING CERTAIN ACTIONS TAKEN PREVIOUSLY; AND REPEALING ALL ACTIONS INCONSISTENT WITH THIS ORDINANCE.

 

Council Bill No: O-20-45

Enactment No:O-2020-044

Sponsored By: Councilor Davis

ORDINANCE

AUTHORIZING THE ISSUANCE AND SALE OF THE CITY OF ALBUQUERQUE, NEW MEXICO TAXABLE INDUSTRIAL REVENUE BONDS (NETFLIX STUDIOS PROJECT), SERIES 2020 IN ONE OR MORE SERIES WHICH WHEN COMBINED WOULD BE IN THE MAXIMUM, AGGREGATE PRINCIPAL AMOUNT OF $500,000,000 TO PROVIDE FUNDS TO FINANCE THE ACQUISITION, CONSTRUCTION, IMPROVEMENT, REHABILITATION AND EQUIPPING OF ENTERTAINMENT PRODUCTION FACILITIES; AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE, LEASE AGREEMENT, BOND PURCHASE AGREEMENT, BONDS, INFRASTRUCTURE IMPROVEMENTS AGREEMENT AND OTHER DOCUMENTS IN CONNECTION WITH THE ISSUANCE OF THE BONDS AND THE PROJECT; 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.