ALBUQUERQUE BERNALILLO COUNTY
WATER UTILITY AUTHORITY
BILL NO. O-18-5 _
ORDINANCE
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Authorizing the Execution and Delivery of a Loan and Subsidy Agreement ("Loan Agreement") By and Between the Albuquerque Bernalillo County Water Utility Authority ("Water Authority") and the New Mexico Finance Authority, Evidencing a Special Limited Obligation of the Water Authority to Pay a Principal Amount of No More Than Two Hundred Fifty Thousand Dollars ($250,000), Together With Interest, Costs of Issuance and Administrative Fees Thereon, and to Accept a Loan Subsidy of No More Than Seven Hundred Fifty Thousand Dollars ($750,000), For the Purpose of Financing the Cost of Extending and Improving the Water Infrastructure System to the Carnuel Community, Including, Acquisition and Installation of Water Distribution Lines; Providing for the Pledge and Payment of the Principal, Interest and Administrative Fees Due Under the Loan Agreement Solely From Net Revenues; Setting a Maximum 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
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Capitalized terms used in the following preambles are defined in Section 1 of this Ordinance, unless the context requires otherwise.
WHEREAS, the Water Authority is a legally and regularly created, established, organized and existing public body politic and corporate, separate and apart from the City and the County, under the general laws of the State; and
WHEREAS, the Water Authority owns, operates and maintains the System as a joint public utility water and sanitary sewer system; and
WHEREAS, the Water Authority is obligated on the following Senior Obligations, payable from Net Revenues, Outstanding on the date of the adoption of this Ordinance in the following ...
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