Village of Los Lunas,
Notice of Adoption
Notice is hereby given of the title and of a general summary of the subject matter contained in Ordinance No. 456, duly adopted and approved by the Governing Body of the Village of Los Lunas, New Mexico (the “Governmental Unit”), on April 8, 2021. Complete copies of the Ordinance are available for public inspection during normal and regular business hours in the office of the Village Administrator, 660 Main Street, Los Lunas, New Mexico 87031.
The title of the Ordinance is:
VILLAGE OF LOS LUNAS, VALENCIA COUNTY,
ORDINANCE NO. 456
AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AND SUBSIDY AGREEMENT (“LOAN AGREEMENT”) BY AND BETWEEN THE VILLAGE OF LOS LUNAS, VALENCIA COUNTY, NEW MEXICO (THE “GOVERNMENTAL UNIT”) AND THE NEW MEXICO FINANCE AUTHORITY, EVIDENCING A SPECIAL LIMITED OBLIGATION OF THE GOVERNMENTAL UNIT TO PAY A PRINCIPAL AMOUNT OF NO MORE THAN THREE MILLION FOUR HUNDRED SEVENTY-EIGHT THOUSAND NINE HUNDRED FIFTY-FIVE DOLLARS AND FORTY-THREE CENTS ($3,478,955.43), TOGETHER WITH INTEREST, EXPENSES, IF ANY AND ADMINISTRATIVE FEES THEREON, AND TO ACCEPT A LOAN SUBSIDY OF NO MORE THAN EIGHT HUNDRED THOUSAND FOUR HUNDRED FOURTEEN DOLLARS AND FIFTY-SEVEN CENTS ($800,414.57), FOR THE PURPOSE OF FINANCING THE COSTS OF INSTALLING A SECOND WATERLINE FROM THE NEW MEXICO HIGHWAY 6 BRIDGE CROSSING THE RIO GRANDE RIVER AND ALL RELATED APPENDITURES; PROVIDING FOR THE PLEDGE AND PAYMENT OF THE PRINCIPAL, ADMINISTRATIVE FEES AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM THE NET REVENUES OF THE JOINT WATER AND SEWER SYSTEM OF THE GOVERNMENTAL UNIT; SETTING AN INTEREST RATE FOR THE LOAN; APPROVING THE FORM OF AND OTHER DETAILS CONCERNING THE LOAN 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.
The title sets forth a general summary of the subject matter contained in the Ordinance.
This notice constitutes compliance with NMSA 1978,
Published in the Valencia County News-Bulletin on
April 15, 2021.