PUBLIC NOTICE IS HEREBY GIVEN that the Rio Rancho Public School District No. 94 (“District”), Sandoval County, New Mexico, will, until the hour of 9:00 a.m., local time, on September 24, 2020, at the office of RBC Capital Markets, 6301 Uptown Blvd., NE, Suite 110, Albuquerque, New Mexico 87110, New Mexico, receive sealed bids and bids sent by electronic transmission and then publicly open the same for the purchase of the District’s General Obligation School Bonds, Series 2020 (“Bonds”), in the aggregate principal amount of $15,000,000 subject to adjustments described below. Award of the Bonds will be pursuant to a resolution authorizing the Bonds adopted by the Board of Education of the District on August 24, 2020 and a pricing certificate executed by an authorized officer of the District (“Pricing Officer”) determining certain terms of the Bonds pursuant to provisions of the resolution (collectively, the “Bond Resolution”). Bids transmitted electronically must be submitted using the BIDCOMP/Parity Bidding System. After receipt of such bids, the Pricing Officer will also award the sale of the Bonds to the responsible bidder submitting the best bid.

The Bonds will be issued as fully registered bonds and will mature on August 1 of each year as follows (preliminary):

Years Amount Maturing
2021 $1,325,000
2022 950,000
2023 950,000
2024 950,000
2025 1,000,000
2026 1,150,000
2027 1,450,000
2028 1,450,000
2029 1,450,000
2030 1,450,000
2031 1,450,000
2032 1,425,000

Said issue constitutes a portion of the bonds that were authorized at a special bond election held on November 5, 2019, and will constitute general obligation bonds of the District, payable from general taxes that may be levied against all taxable property within the District, without limitation as to rate or amount.

The District plans to structure the Bonds in a manner that produces proceeds of the sale of the Bonds to the District (principal and net premium) of $15,000,000 plus an amount for costs of issuance of the Bonds as determined by the District. Therefore, the District reserves the right to reduce the aggregate principal amount of the Bonds and adjust the maturity schedule, in $5,000 denominations, by notifying the winning bidder for the Bonds no later than three hours following opening of bids of any adjustments to the Bonds. See the Official Notice of Bond Sale relating to the Bonds for more information.

Bidders are required to submit an Official Bid Form specifying the lowest rate or rates of interest and premium, if any, at which such bidder will purchase the Bonds. Further limitations and information concerning the interest rates that may be bid for the Bonds, discount and premium and otherwise concerning bidding are set forth in the Official Notice of Bond Sale, of which this notice is a condensation. All bids must comply with the terms of the Official Notice of Bond Sale. Bids should be enclosed in a sealed envelope endorsed “Bid for Bonds” or sent by electronic transmission via the BIDCOMP/Parity Bidding System. Only unconditional bids shall be considered. The District reserves the privilege of waiving any irregularity or informality (except time of filing) in any bid. The Official Notice of Bond Sale, the Official Bid Form, and the Preliminary Official Statement may be obtained from the District’s municipal advisor, RBC Capital Markets, LLC, 6301 Uptown Blvd., NE, Suite 110, Albuquerque, New Mexico 87110 (Telephone (505) 872-5999). The Pricing Officer designated in the Bond Resolution may, after consultation with the Board’s municipal advisor, in the Pricing Officer’s discretion, subject to the terms of the Bond Resolution, and prior to the examination of bids, (i) adjust the aggregate principal amount set forth herein; (ii) adjust individual maturities; and/or (iii) modify or clarify any other term hereof by issuing a notification of the adjusted amounts, modification or clarification via Thomson Municipal News (“TM3”) and/or Bloomberg Financial Services no later than 8:30 a.m., prevailing Mountain Time, on the Bid Date.

The Pricing Officer may, after consultation with the Board’s municipal advisor, in the Pricing Officer’s sole discretion on notice given at least twenty-four (24) hours prior to the Original Deadline, reschedule the Original Bid Date and Original Deadline, and may, at that time or a subsequent time on at least twenty-four (24) hours prior notice, in each case via TM3 and/or Bloomberg Financial Services, establish a Rescheduled Bid Date and Rescheduled Deadline and a place where electronic bids will be publicly examined.

The validity and enforceability of the Bonds will be approved by the New Mexico Attorney General, and Virtue & Najjar, PC, Santa Fe, New Mexico.

/s/ Amanda Galbraith, President
Board of Education Rio Rancho Public School District No. 94.

Observer: September 13, 2020