NOTICE OF ADOPTION OF ORDINANCE NO. 717
STATE OF NEW MEXICO, COUNTY OF LOS ALAMOS
Notice is hereby given that the following Ordinance No. 717, was duly adopted and approved by the County Council of the Incorporated County of Los Alamos, State of New Mexico, on May 24, 2022. The full copy is available for inspection or purchase in the County Clerk’s Office: 1000 Central Avenue, Suite 240, during regular business hours.
INCORPORATED COUNTY OF LOS ALAMOS ORDINANCE NO. 717
AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AND SUBSIDY AGREEMENT (“LOAN AGREEMENT”) BY AND BETWEEN THE INCORPORATED COUNTY OF LOS ALAMOS, NEW MEXICO (THE “GOVERNMENTAL UNIT”) AND THE NEW MEXICO FINANCE AUTHORITY, EVIDENCING A SPECIAL LIMITED OBLIGATION OF THE GOVERNMENTAL UNIT TO PAY A PRINCIPAL AMOUNT OF NO MORE THAN $2,727,000, TOGETHER WITH EXPENSES, IF ANY, AND ADMINISTRATIVE FEES, THEREON, FOR THE PURPOSE OF FINANCING THE COSTS OF ACQUIRING THE SERVICES OF AN ENGINEER TO ASSESS AND PRIORITIZE FACILITY UPGRADES AND REPLACEMENT OF THE MOTOR CONTROL CENTERS IN FOUR FACILITIES INCLUDING THE ASSOCIATED ELECTRIC GEAR; PROVIDING FOR THE PLEDGE AND PAYMENT OF THE PRINCIPAL, ADMINISTRATIVE FEES AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM THE NET REVENUES OF THE JOINT UTILITY SYSTEM OF THE GOVERNMENTAL UNIT; SETTING AN INTEREST RATE FOR THE LOAN; APPROVING THE FORM OF AND OTHER DETAILS CONCERNING THE LOAN AGREEMENT; RATIFYING ACTIONS HERETOFORE TAKEN; REPEALING ALL ACTION INCONSISTENT WITH THIS ORDINANCE; AND AUTHORIZING THE TAKING OF OTHER ACTIONS IN CONNECTION WITH THE EXECUTION AND DELIVERY OF THE LOAN AGREEMENT.
ADOPTED this 24th day of May 2022
Council of the Incorporated County of Los Alamos
By: /s/ Randall T. Ryti, Council Chair
Attest: /s/ Naomi D. Maestas, County Clerk
PUBLISHED IN THE LOS ALAMOS DAILY POST THURSDAY JUNE 2, 2022