NOTICE OF INTENT TO ADOPT ORDINANCE
Notice is hereby given of the title and general subject matter contained in an ordinance which the Board of County Commissioners of Sandoval County, New Mexico, the governing body of the County, intends to adopt at a meeting on or after October 25, 2023 at the hour of 6:00 p.m. at Commission Chambers, 1500 Idalia Rd, Building D, Bernalillo, New Mexico 87004 relating to the authorization, issuance and sale by Sandoval County, New Mexico of its gross receipts tax revenue notes.
The title of the proposed Ordinance (subject to modification or amendment) is:
AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF SANDOVAL COUNTY, NEW MEXICO GROSS RECEIPTS TAX AND SYSTEM REVENUE NOTES (THE “NOTES”) IN ONE OR MORE SERIES IN THE MAXIMUM PRINCIPAL AMOUNT OF $5,500,000 TO PROVIDE FUNDS TO FINANCE THE COSTS OF EQUIPMENT FOR THE COUNTY’S LANDFILL AND THE REFUNDING OF CERTAIN OBLIGATIONS PREVIOUSLY INCURRED BY THE COUNTY TO FINANCE ASSETS ASSOCIATED WITH SAID LANDFILL (COLLECTIVELY, THE “PROJECT”) AND TO PAY COSTS OF ISSUANCE; PROVIDING THAT THE NOTES WILL BE PAYABLE FROM NET SYSTEM REVENUES OF THE COUNTY’S LANDFILL AND 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 NOTES PURSUANT TO THE SUPPLEMENTAL PUBLIC SECURITIES ACT; PROVIDING FOR THE DISPOSITION OF THE PROCEEDS OF SAID NOTES AND THE RECEIPTS DERIVED FROM SAID GROSS RECEIPTS TAX AND OTHER PLEDGED REVENUES; PRESCRIBING OTHER DETAILS CONCERNING SAID NOTES, INCLUDING BUT NOT LIMITED TO COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH AND THE FORM, TERMS, CONDITIONS AND MANNER OF EXECUTION OF SAID NOTES AND OTHER DOCUMENTS CONCERNING THE PROJECT, INCLUDING A LOAN AGREEMENT TO BE ENTERED INTO WITH THE NEW MEXICO FINANCE AUTHORITY; AUTHORIZING THE EXECUTION AND DELIVERY OF THE NOTES, THE LOAN AGREEMENT, AND OTHER DOCUMENTS IN CONNECTION WITH THE ISSUANCE OF THE NOTES AND THE PROJECT; RATIFYING CERTAIN ACTIONS TAKEN PREVIOUSLY AND REPEALING ALL ACTIONS INCONSISTENT WITH THIS ORDINANCE.
A general summary of the Ordinance is contained in its title. A copy of the Ordinance in draft form is on file in the office of the County Clerk at 1500 Idalia Road, Building D, Bernalillo, New Mexico 87004 and will be available for inspection during normal business hours.
This notice is given pursuant to Section 4-37-7 NMSA 1978.
Dated: October 5, 2023.
Anne Brady-Romero, County Clerk
Observer: October 5, 2023