ALBUQUERQUE BERNALILLO COUNTY
WATER UTILITY AUTHORITY
BILL NO. _R-24-37____
RESOLUTION
t
A Resolution Authorizing the Execution and Delivery of a Water Project Fund Loan/Grant Agreement By and Between the New Mexico Finance Authority (NMFA) and the Albuquerque Bernalillo County Water Utility Authority (Borrower/Grantee), In the Total Amount of $200,000 ($180,000 Grant Amount/$20,000 Loan Amount), Evidencing a Special Limited Obligation of the Borrower/Grantee to Utilize the Loan/Grant Amount Solely For the Purpose of Financing the Costs of Designing New Arsenic Treatment Plants, and Solely In the Manner Described In the Loan/Grant Agreement; Providing For the Pledge and Payment of the Loan Amount and an Administrative Fee Solely From a Super Subordinate Lien (But Not an Exclusive Super Subordinate Lien) On the Net System Revenues of the Water and Wastewater Utility System of the Borrower/Grantee; Certifying That the Loan/Grant Amount, Together With Other Funds Available To the Borrower/Grantee, Is Sufficient To Complete the Project; Approving the Form of and Other Details Concerning the Loan/Grant Agreement; Ratifying Actions Heretofore Taken; Repealing All Action Inconsistent With This Resolution; and Authorizing the Taking of Other Actions in Connection With the Execution and Delivery of the Loan/Grant Agreement
b
Capitalized terms used in the following preambles have the same meaning as defined in this Resolution unless the context requires otherwise.
WHEREAS, the Borrower/Grantee is a legally and regularly created, established, duly organized and existing water and wastewater utility under and pursuant to the laws of the State and more specifically, NMSA 1978, Section 72-1-10, as amended, is a qualifying entity under the Water Project Finance Act and is qualified for financial assistance as determined by the NMFA and approved by the Water Trust Board pursuant to the Board Rules, the Policies and the Act; and
WHEREAS, pursu...
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