Notice of Publication Council Bill No. O-26-17
City of Albuquerque Twenty Seventh Council
Council Bill No: O-26-17
Enactment No: O-2026-014
Sponsored By: Nichole Rogers
AUTHORIZING THE EXECUTION AND DELIVERY OF A WATER PROJECT FUND LOAN/GRANT AGREEMENT BY AND BETWEEN THE NEW MEXICO FINANCE AUTHORITY (“FINANCE AUTHORITY”) AND THE CITY OF ALBUQUERQUE (THE “BORROWER/GRANTEE”), EVIDENCING AN OBLIGATION OF THE BORROWER/GRANTEE TO UTILIZE THE LOAN/GRANT AMOUNT SOLELY FOR a water storage, conveyance and delivery PROJECT for PUERTO DEL SOL golf course in the total amount of three million dollars ($3,000,000), including a loan in the aMount of three hundred thousand dollars ($300,000); SOLELY IN THE MANNER DESCRIBED IN THE LOAN/GRANT AGREEMENT; PROVIDING FOR THE PLEDGE AND PAYMENT OF THE LOAN AMOUNT AND AN ADMINISTRATIVE FEE SOLELY FROM THE revenues of the TAX DISTRIBUTIONS RECEIVED BY THE GOVERNMENTAL UNIT PURSUANT TO NMSA 1978, § 7-1-6.1, NMSA 1978, § 7-1-6.4, NMSA 1978, § 7-1-6.15, AND NMSA 1978, § 7-9-4, AS AMENDED; CERTIFYING THAT THE LOAN/GRANT AMOUNT, TOGETHER WITH OTHER FUNDS AVAILABLE TO THE BORROWER/GRANTEE, ARE SUFFICIENT TO COMPLETE THE PROJECT; APPROVING THE FORM OF AND OTHER DETAILS CONCERNING THE LOAN/GRANT AGREEMENT; RATIFYING ACTIONS HERETOFORE TAKEN; REPEALING ALL ACTION INCONSISTENT WITH THIS RESOLUTION; AND AUTHORIZING THE TAKING OF OTHER ACTIONS IN CONNECTION WITH THE EXECUTION AND DELIVERY OF THE LOAN/GRANT AGREEMENT.