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. 11-08-23.10D 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. 11-08-23.10D
AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF SANDOVAL COUNTY, NEW MEXICO GROSS RECEIPTS TAX AND SYSTEM REVENUE NOTES (THE “NOTE”) IN ONE OR MORE SERIES IN THE MAXIMUM PRINCIPAL AMOUNT OF $3,200,000 TO PROVIDE FUNDS TO FINANCE THE COSTS OF EQUIPMENT FOR THE COUNTY’S LANDFILL (THE “PROJECT”) AND TO PAY COSTS OF ISSUANCE; PROVIDING THAT THE NOTE 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; PROVIDING FOR THE DISPOSITION OF THE PROCEEDS OF SAID NOTE AND THE RECEIPTS DERIVED FROM SAID GROSS RECEIPTS TAX AND OTHER PLEDGED REVENUES; PRESCRIBING OTHER DETAILS CONCERNING SAID NOTE, AGREEMENTS AND OTHER DOCUMENTS CONCERNING THE PROJECT, INCLUDING A LOAN AGREEMENT AND AN INTERCEPT AGREEMENT TO BE ENTERED INTO WITH THE NEW MEXICO FINANCE AUTHORITY; PROVIDING FOR A SUPPLEMENTAL RESOLUTION TO BE SUBSEQUENTLY ADOPTED SPECIFYING DETAILS OF AND APPROVING FORMS OF THE LOAN AGREEMENT, THE INTERCEPT AGREEMENT, AND THE NOTE, AND SPECIFYING NET EFFECTIVE INTEREST RATES; AUTHORIZING THE EXECUTION AND DELIVERY OF THE NOTE, THE LOAN AGREEMENT, THE INTERCEPT 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