CITY OF BELEN,
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, June 20, 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
AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF CITY OF BELEN, NEW MEXICO, GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2022, IN THE PRINCIPAL AMOUNT OF $2,500,000, PAYABLE FROM AD VALOREM TAXES LEVIED ON ALL TAXABLE PROPERTY WITHIN THE CITY, LEVIED WITHOUT LIMIT AS TO RATE OR AMOUNT; PROVIDING FOR THE FORM, CERTAIN TERMS AND CONDITIONS OF THE BONDS, THE MANNER OF THEIR EXECUTION, AND THE METHOD OF AND SECURITY FOR PAYMENT THEREOF; PROVIDING FOR THE SALE OF THE BONDS TO THE NEW MEXICO FINANCE AUTHORITY; PROVIDING THAT THE MATURITY DATES AND PRINCIPAL MATURITY SCHEDULE, INTEREST RATES, PRICES, REDEMPTION FEATURES AND OTHER FINAL TERMS OF THE BONDS SHALL BE ESTABLISHED IN AN AWARD CERTIFICATE; DELEGATING AUTHORITY TO THE CITY MANAGER TO AWARD THE BONDS TO THE PURCHASER AND ENTER INTO A BOND PURCHASE AGREEMENT; AND PROVIDING FOR OTHER DETAILS CONCERNING THE BONDS.
The Ordinance directs and authorizes the issuance of City of Belen, General Obligation Bonds in the aggregate principal amount of $2,500,000; provides that providing that the Bond proceeds shall be used to acquire, construct, purchase, equip and/or improve a police station, including acquiring land therefore; provides parameters for the Bonds; provides the form of the Bonds; delegates authority to the City Manager to determine the the exact principal amounts, maturity dates, interest rates, prices, redemption features and other final terms of the Bonds within the parameters established in this Ordinance and to award the Bonds to the Purchaser pursuant to an Award Certificate and a Bond Purchase Agreement; provides for the delivery of the Bonds; provides for levy of taxes to pay the principal of and interest on the bonds; makes certain covenants for the benefit of the owners of the Bonds; and provides other details concerning the bonds. 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: June 2, 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.