CITY OF RIO RANCHO, NEW MEXICO
NOTICE OF INTENT TO ADOPT
Notice is hereby given that at its regular meeting on October 26, 2023, commencing at the hour of 6:00 pm., the City Council of the City of Rio Rancho, New Mexico (the “City Council”) will conduct a public hearing to consider a proposed amending ordinance, the title of which appears below (the “Ordinance”). The meeting will take place at the regular meeting place of the Council, being Council Chambers 3200 Civic Center Circle,. Rio Rancho, New Mexico. Information regarding the location of the meeting will be posted on the website of the City. A complete copy of the Ordinance is available for public inspection during normal and regular business hours at the Office of the City Clerk at 3200 Civic Center Circle,. Rio Rancho, New Mexico
The title of the proposed Ordinance is:
CITY OF RIO RANCHO
ORDINANCE AMENDING ORDINANCE NO. 29, ENACTMENT NO. 22-30 RELATING TO THE ISSUANCE AND SALE OF CITY OF RIO RANCHO, NEW MEXICO TAXABLE INDUSTRIAL REVENUE BONDS (ATRISCO ENERGY SOLAR LLC PROJECT), IN A MAXIMUM PRINCIPAL AMOUNT OF UP TO $430,000,000, FOR THE PURPOSE OF APPROVING ALLOCATION OF THE ANNUAL PAYMENTS IN LIEU OF TAXES TO RIO RANCHO PUBLIC SCHOOLS AND ALBUQUERQUE PUBLIC SCHOOLS IN CONFORMITY WITH THE REQUIREMENTS OF SECTION 3-32-6 NMSA 1978; AUTHORIZING EXECUTION AND DELIVERY OF THE BONDS WITH UPDATED SERIES DESIGINATION TO REFLECT THE DATE OF ISSUANCE AND DELIVERY; RATIFYING CERTAIN ACTIONS TAKEN PREVIOUSLY; AND REPEALING ALL ACTIONS INCONSISTENT WITH THIS ORDINANCE
The Ordinance approves of an amendment (the “Amendment”) to the form of Lease Agreement (the “Lease”) between the City of Rio Rancho, New Mexico and Atrisco Energy Solar LLC (the “Company”), originally approved by the City Council in Ordinance O29. The Amendment amends Exhibit D to the Lease to allocate the payments in lieu of taxes to each of the City of Rio Rancho Public Schools and Albuquerque Public Schools according to the requirements of Section 3-32-6 NMSA, as currently in effect.
This notice is given pursuant to Section 3-17-3 NMSA 1978.
Observer: October 5, 2023