CITY OF BELEN,
NEW MEXICO

NOTICE OF ADOPTION OF ORDINANCE

Notice is hereby given of the title and of a general summary of the subject matter contained in City Ordinance No. 2021-13 (“Ordinance”), duly adopted and approved by the City Council of the City of Belen, New Mexico, on October 4, 2021, relating to the authorization and issuance of the City’s Taxable Industrial Revenue Bonds (Sky Ranch Energy Storage LLC Project), Series 2021 (the “Bonds”). Complete copies of the Ordinance are available for public inspection during the normal and regular business hours at the Office of the City Clerk at 100 S. Main St., Belen, New Mexico.

AUTHORIZING THE ISSUANCE AND SALE OF CITY OF BELEN, NEW MEXICO TAXABLE INDUSTRIAL REVENUE BONDS (SKY RANCH ENERGY STORAGE LLC PROJECT), IN A MAXIMUM PRINCIPAL AMOUNT OF UP TO $91,000,000 IN ONE OR MORE SERIES TO PROVIDE FUNDS TO FINANCE THE EQUIPPING OF AN INDUSTRIAL REVENUE BOND PROJECT FOR USE BY SKY RANCH ENERGY STORAGE LLC PROJECT OR ITS SUCCESSORS OR ASSIGNS; AUTHORIZING THE EXECUTION AND DELIVERY OF AN INDENTURE, A LEASE, A BOND PURCHASE AGREEMENT, THE BONDS AND OTHER DOCUMENTS IN CONNECTION WITH THE ISSUANCE OF THE BONDS AND THE PROJECT; AUTHORIZING A PAYMENT IN LIEU OF TAXES TO THE CITY AND BELEN CONSOLIDATED SCHOOL DISTRICT NO. 2 BY THE PROJECT COMPANIES; AND 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.

The title sets forth a general summary of the subject matter contained in the Ordinance. This Notice constitutes compliance with Sections 6-14-4 through 6-14-7 NMSA 1978.

Published in the Valencia County News Bulletin on
October 14, 2021

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Valencia County News-Bulletin
505-864-4472 | [email protected]

The Valencia County News-Bulletin is a locally owned and operated community newspaper, dedicated to serving Valencia County since 1910 through the highest journalistic and professional business standards. The VCNB is published weekly on Thursdays, including holidays both in print and online.