Sandoval 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 Ordinance No. 11-8-23.10B duly adopted and approved by the County Commission of Sandoval County, New Mexico, on November 8, 2023. A complete copy of the Ordinance is available for public inspection during the normal and regular business hours of the County Clerk, 1500 Idalia, Building D, Bernalillo, New Mexico.
The title of the Ordinance is:
SANDOVAL COUNTY, NEW MEXICO
ORDINANCE NO. 11-8-23.10B
AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF SANDOVAL COUNTY, NEW MEXICO GROSS RECEIPTS TAX REVENUE BONDS, NOTES OR OTHER OBLIGATIONS (THE “NOTE”) IN ONE OR MORE SERIES IN THE MAXIMUM PRINCIPAL AMOUNT OF $18,000,000 TO PROVIDE FUNDS TO FINANCE THE COSTS OF DESIGNING, CONSTRUCTING AND EQUIPPING A NEW DISTRICT COURT FACILITY FOR THE COUNTY (THE “PROJECT”); PROVIDING THAT THE NOTE WILL BE PAYABLE FROM REVENUE ATTRIBUTABLE TO CERTAIN INCREMENTS OR PORTIONS OF GROSS RECEIPTS TAX REVENUES OF THE COUNTY; APPROVING THE DELEGATION OF AUTHORITY TO MAKE CERTAIN DETERMINATIONS REGARDING THE TERMS OF THE NOTE PURSUANT TO THE SUPPLEMENTAL PUBLIC SECURITIES ACT; PROVIDING FOR THE DISPOSITION OF THE PROCEEDS OF SAID NOTE AND THE RECEIPTS DERIVED FROM SAID GROSS RECEIPTS TAX; PRESCRIBING OTHER DETAILS CONCERNING SAID NOTE, INCLUDING BUT NOT LIMITED TO COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH AND THE FORM, TERMS, CONDITIONS AND MANNER OF EXECUTION OF SAID NOTE AND OTHER DOCUMENTS CONCERNING THE PROJECT; AUTHORIZING THE EXECUTION AND DELIVERY OF THE NOTE AND A RELATED NOTE PURCHASE AGREEMENT, LOAN AGREEMENT, AND OTHER DOCUMENTS IN CONNECTION WITH THE ISSUANCE OF THE NOTE AND THE PROJECT; RATIFYING CERTAIN ACTIONS TAKEN PREVIOUSLY; AND REPEALING ALL ACTIONS INCONSISTENT WITH THIS ORDINANCE.
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.
Dated: November 16, 2023.
Anne Brady-Romero, County Clerk
Observer: November 16, 2023