Legal Notices-Government

CITY OF BELEN,

NEW MEXICO

NOTICE OF ADOPTION OF ORDINANCE

NOTICE IS HEREBY GIVEN that the City Council of Belen, New Mexico, did on the 20th day of June, 2022, adopt an ordinance entitled:

AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF CITY OF BELEN, NEW MEXICO, GENERAL OBLIGATION BONDS, SERIES 2022, IN THE PRINCIPAL AMOUNT OF $2,500,000, PAYABLE FROM AD VALOREM TAXES LEVIED ON ALL TAXABLE PROPERTY WITHIN THE CITY, LEVIED WITHOUT LIMIT AS TO RATE OR AMOUNT; PROVIDING FOR THE FORM, CERTAIN TERMS AND CONDITIONS OF THE BONDS, THE MANNER OF THEIR EXECUTION, AND THE METHOD OF AND SECURITY FOR PAYMENT THEREOF; PROVIDING FOR THE SALE OF THE BONDS TO THE NEW MEXICO FINANCE AUTHORITY; PROVIDING THAT THE MATURITY DATES AND PRINCIPAL MATURITY SCHEDULE, INTEREST RATES, PRICES, REDEMPTION FEATURES AND OTHER FINAL TERMS OF THE BONDS SHALL BE ESTABLISHED IN AN AWARD CERTIFICATE; DELEGATING AUTHORITY TO THE CITY MANAGER OR CITY FINANCE DIRECTOR TO AWARD THE BONDS TO THE PURCHASER AND ENTER INTO A BOND PURCHASE AGREEMENT; AND PROVIDING FOR OTHER DETAILS CONCERNING THE BONDS.

The Ordinance directs and authorizes the issuance of the City of Belen, New Mexico, General Obligation Bonds, Series 2022 in the aggregate principal amount of $2,500,000 for the purpose of (1) acquiring, constructing, purchasing, equipping and/or improving a police station, including acquiring land therefore and (2) paying the costs of issuance of the Bonds; approves the sale of the bonds to the New Mexico Finance Authority pursuant to a bond purchase agreement; delegates authority to the City Manager and City Finance Director to determine the exact principal amounts, maturity dates, interest rates, prices, redemption features and other final terms of the Bonds within the parameters established in this Ordinance and to award the Bonds to the Purchaser pursuant to an Award Certificate; provides for the form of the bonds; provides for levy of taxes to pay the principal of and interest on the bonds; makes certain covenants with the bond purchaser; and provides other details concerning the bonds. Complete copies of the Ordinance are available for public inspection during normal and regular business hours at the offices of the City Clerk, 100 S. Main Street, Belen, New Mexico 87002. This notice constitutes compliance with Section 6-14-6, NMSA 1978.

Dated: June 20, 2022

CITY OF BELEN,

NEW MEXICO

Published in the Valencia County News-Bulletin: June 30, 2022