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 $1,375,000.00, TOGETHER WITH INTEREST THEREON, FOR THE PURPOSE OF REFUNDING AND REFINANCING THE GOVERNMENTAL UNIT’S OUTSTANDING FINANCE AUTHORITY LOAN NO. PPRF-2573 AND THE GOENRNMENTAL UNIT’S OUTSTANDING FINANCE AUTHORITY LOAN NO. PPRF-2574; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM GROSS RECEIPTS TAX REVENUES RECEIVED BY THE CITY FROM THE STATE OF NEW MEXICO AS AUTHORIZED BY SECTIONS 7-1-6.1, 7-1-6.4 AND 7-1-6.15 NMSA 1978, AS AMENDED, AND THE ONE HALF OF ONE PERCENT MUNICIPAL GROSS RECEIPTS TAX REVENUES IMPOSED BY THE CITY PURSUANT TO ORDINANCE NO. 2008-03, ADOPTED ON JUNE 16, 2008, AND ORDINANCE NO. 81-7 ADOPTED ON AUGUST 18, 1980 AS AMENDED BY ORDINANCE 1997-05 ADOPTED ON FEBRUARY 17, 1997, AND SECTIONS 7-19D-1 THROUGH 7-19D-9 NMSA 1978; APPROVING THE FORM AND TERMS OF, AND OTHER DETAILS CONCERNING, THE LOAN AGREEMENT AND INTERCEPT AGREEMENT; DELEGATING AUTHORITY TO MAKE CERTAIN DETERMINATIONS CONCERNING THE TERMS OF THE LOAN AGREEMENT AND INTERCEPT 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.

A summary of the ordinance is contained in the title. 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

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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.