CITY OF BELEN,
NEW MEXICO
NOTICE OF PUBLIC HEARING AND INTENT TO ADOPT ORDINANCE
Notice is hereby given of the title and of a general summary of the subject matter contained in an ordinance to be considered for adoption by the City Council of the City of Belen, New Mexico on Monday, May 16, 2022 at 6:00 p.m. at the Council Chambers, Belen City Hall, 100 S. Main Street, Belen, New Mexico 87002.
The title of the Ordinance is:
CITY OF BELEN
AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT BY AND BETWEEN THE CITY OF BELEN, NEW MEXICO (THE “GOVERNMENTAL UNIT”) AND THE NEW MEXICO FINANCE AUTHORITY (THE “FINANCE AUTHORITY”), EVIDENCING A SPECIAL, LIMITED OBLIGATION OF THE GOVERNMENTAL UNIT TO PAY A PRINCIPAL AMOUNT OF UP TO $7,555,000, TOGETHER WITH INTEREST THEREON, FOR THE PURPOSE OF (1) RESTRUCTURING, REFUNDING, AND REFINANCING THE GOVERNMENTAL UNIT’S OUTSTANDING NEW MEXICO FINANCE AUTHORITY LOAN NO. PPRF-5023 (2) CONSTRUCTING AND EQUIPPING A MAGISTRATE COURT FACILITY, (3) FUNDING A LOAN AGREEMENT RESERVE ACCOUNT AND CAPITALIZED INTEREST ACCOUNT AND (4) PAYING THE COSTS OF ISSUANCE OF THE LOAN; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM THE LEASE REVENUES DERIVED FROM A LEASE OF THE COURT FACILITY AS AMENDED BY THE PREVIOUSLY APPROVED LEASE AMENDMENT BETWEEN THE GOVERNMENTAL UNIT AND THE NEW MEXICO ADMINISTRATIVE OFFICE OF THE COURTS; APPROVING THE FORM AND TERMS OF, AND OTHER DETAILS CONCERNING, THE LOAN AGREEMENT AND LEASE AGREEMENT; DELEGATING AUTHORITY TO MAKE CERTAIN DETERMINATIONS CONCERNING THE TERMS OF THE LOAN AGREEMENT AND LEASE AGREEMENT; RATIFYING ACTIONS HERETOFORE TAKEN; REPEALING ALL ACTION INCONSISTENT WITH THIS ORDINANCE; AND AUTHORIZING THE TAKING OF OTHER ACTIONS IN CONNECTION WITH THE EXECUTION AND DELIVERY OF THE LOAN AGREEMENT AND THE LEASE AGREEMENT.
Complete copies of the ordinance are on file in the Office of the City Clerk and are available for inspection and/or purchase during regular office hours. This notice constitutes compliance with Sections 3-17-3, NMSA 1978.
Published in the Valencia County News-Bulletin: April 28, 2022
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.
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