NOTICE OF ADOPTION
NOTICE IS HEREBY GIVEN that the City of Belen held a public hearing during the Regular City Council Meeting that was held on Monday, September 18, 2023, in the Belen City Hall Council Chambers, 100 South Main St., Belen, NM, 87002, in reference to the adoption of titled and described as:
AUTHORIZING THE CITY OF BELEN (“BORROWER”) TO ENTER INTO A LOAN AGREEMENT WITH THE NEW MEXICO ENVIRONMENT DEPARTMENT (“NMED”) FOR THE PURPOSE OF OBTAINING PROJECT LOAN FUNDS IN THE PRINCIPAL AMOUNT OF $500,000 PLUS 1% ACCRUED INTEREST AND LOAN SUBSIDY GRANT FUNDS IN THE AMOUNT OF $100,000; FOR A TOTAL FUNDED AMOUNT OF $600,000; DESIGNATING THE USE OF THE FUNDS FOR THE PURPOSE DEFINED IN THE MOST CURRENT PROJECT DESCRIPTION FORM AS APPROVED BY NMED; DECLARING THE NECESSITY FOR THE LOAN; PROVIDING THAT THE LOAN WILL BE PAYABLE AND COLLECTIBLE SOLELY FROM THE BORROWER’S PLEDGED REVENUES DEFINED BELOW; PRESCRIBING OTHER DETAILS CONCERNING THE LOAN AND THE SECURITY FOR THAT PURPOSE.
The City of Belen Governing Body approved and adopted the above referenced, Ordinance #2023-14. A copy of the full Ordinance may be reviewed at the office of the City Clerk located at 100 South Main St. Belen, NM 87002.
This Ordinance shall become effective five days after publication.
DATED this 21st day of September 2023 and published on the 28th day of September 2023.
/s/ Dorothy Flores, City Clerk/Treasurer
Published in the Valencia County News-Bulletin 28th September, 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.
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