ALBUQUERQUE BERNALILLO COUNTY
WATER UTILITY AUTHORITY
BILL NO. O-15-1
ORDINANCE
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An Ordinance Authorizing the Execution and Delivery of a First Amendment to a Water Project Fund Loan/Grant Agreement ("FIRST AMENDMENT") by and Between the Albuquerque Bernalillo County Water Utility Authority as Borrower/Grantee and the New Mexico Water Trust Board and The New Mexico Finance Authority as Lenders/Grantors; Amending the Water Project Fund Loan/Grant Agreement to Extend the Funding Period for an Additional Three Months to February 23, 2015; Approving the Form and Terms of and Other Details Concerning the First Amendment; Amending Ordinance No. O-11-3 to Conform to the Provisions of this Ordinance; 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 First Amendment.
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WHEREAS, the Borrower/Grantee is a legally and regularly created, established, organized and existing water utility authority under the general laws of the State of New Mexico (the "State") and more specifically, NMSA 1978, ?72-1-10, as amended; and
WHEREAS, the Governing Body adopted Ordinance No. O-11-3 on October 19, 2011 (the "Original Ordinance") authorizing the Borrower/Grantee to execute a Loan/Grant Agreement to accept a grant in the amount of nine hundred sixty thousand dollars ($960,000) and enter into a loan in the amount of six hundred forty thousand dollars ($640,000) from the New Mexico Water Trust Board ("WTB") and the New Mexico Finance Authority (the "Finance Authority") (collectively, the "Lenders/Grantors") and for the Project defined in the Original Ordinance; and
WHEREAS, the Borrower/Grantee and the Lenders/Grantors entered into the Loan/Grant Agreement on November 23, 2011 pursuant to NMSA 1978, ?? 72-1-10, as amended, NMSA 1978, ?? 3-31-1 through 3-31-12, as amended, and NMSA 1978, ?? 6-21-1 through 6-21-31, as ...
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