Valencia County, New Mexico
Notice of Adoption of
Notice is hereby given of the title and of a general summary of the subject matter contained in Resolution No. 2023-30, duly adopted and approved by the Governing Body of Valencia County, New Mexico, on May 3, 2023. A complete copy of the Resolution is available for public inspection during the normal and regular business hours of the County Clerk, 444 Luna Avenue, Los Lunas, New Mexico 87031.
The title of the Resolution is:
VALENCIA COUNTY, NEW MEXICO
RESOLUTION NO. 2023-30
AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT AND INTERCEPT AGREEMENT BY AND BETWEEN VALENCIA COUNTY, NEW MEXICO (THE “GOVERNMENTAL UNIT”) AND THE NEW MEXICO FINANCE AUTHORITY (THE “FINANCE AUTHORITY”), IN THE MAXIMUM PRINCIPAL AMOUNT OF $401,745, FOR THE PURPOSE OF PURCHASING AN AMBULANCE AND RESCUE EQUIPMENT FOR THE COUNTY, AND EVIDENCING A SPECIAL LIMITED OBLIGATION OF THE GOVERNMENTAL UNIT TO PAY A PRINCIPAL AMOUNT OF UP TO $401,745, TOGETHER WITH INTEREST THEREON, AND FUNDING A LOAN AGREEMENT RESERVE ACCOUNT; PROVIDING FOR THE PLEDGE AND PAYMENT OF THE PRINCIPAL AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM THE ONE-QUARTER OF ONE PERCENT (0.25%) OF COUNTY LOCAL OPTION GROSS RECEIPTS TAX IMPOSED PURSUANT TO SECTION 7-20E-9, NMSA 1978, AND DISTRIBUTED TO THE GOVERNMENTAL UNIT BY THE STATE TAXATION AND REVENUE DEPARTMENT; PROVIDING FOR THE DISTRIBUTION OF COUNTY LOCAL OPTION GROSS RECEIPTS TAX TO BE REDIRECTED BY THE STATE TAXATION AND REVENUE DEPARTMENT TO THE FINANCE AUTHORITY OR ITS ASSIGNS FOR THE PAYMENT OF PRINCIPAL AND INTEREST DUE ON THE LOAN AGREEMENT PURSUANT TO AN INTERCEPT AGREEMENT; DELEGATING AUTHORITY TO THE CHAIR TO EXECUTE A CERTIFICATE OF FINAL TERMS, TO APPROVE FINAL FORMS OF LOAN DOCUMENTS AND TO EXECUTE ADDITIONAL DOCUMENTS AS REQUIRED; RATIFYING ACTIONS HERETOFORE TAKEN; REPEALING ALL ACTION INCONSISTENT WITH THIS RESOLUTION; AND AUTHORIZING THE TAKING OF OTHER ACTIONS IN CONNECTION WITH THE EXECUTION AND DELIVERY OF THE LOAN AGREEMENT AND INTERCEPT AGREEMENT.
A general summary of the subject matter of the Resolution is contained in its title. This notice constitutes compliance with Section 6-14-6, NMSA 1978.
Published in the Valencia County News-Bulletin 11 May, 2023
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.