Legal Notices-Government

The title of the Ordinance is:

CITY OF BELEN
ORDINANCE

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 $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.

A summary of the subject matter of the Ordinance is contained in its title. This notice constitutes compliance with Section 6-14-6, NMSA 1978.