Title
Incorporated County of Los Alamos Ordinance No. 698; An Ordinance Authorizing the Execution and Delivery of a Water Project Fund Loan/Grant Agreement by and Between the New Mexico Finance Authority (“Finance Authority”) and the Incorporated County of Los Alamos, New Mexico (the “Borrower/Grantee”), in the Total Amount of $800,000, Evidencing an Obligation of the Borrower/Grantee to Utilize the Loan/Grant Amount Solely for the Purpose of Financing the Costs of Construction of a Replacement Effluent Booster Station at Overlook Park, 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 Net Revenues of the Water Utility Fund; 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 Ordinance; and Authorizing the Taking of Other Actions in Connection with the Execution and Delivery of the Loan/Grant Agreement
Recommended Action
I move that Council adopt Incorporated County of Los Alamos Ordinance No. 698; An Ordinance Authorizing the Execution and Delivery of a Water Project Fund Loan/Grant Agreement by and Between the New Mexico Finance Authority (“Finance Authority”) and the Incorporated County of Los Alamos, New Mexico (the “Borrower/Grantee”), in the Total Amount of $800,000, Evidencing an Obligation of the Borrower/Grantee to Utilize the Loan/Grant Amount Solely for the Purpose of Financing the Costs of Construction of a Replacement Effluent Booster Station at Overlook Park, 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 Net Revenues of the Water Utility Fund; Certifying That the Loan/Grant Amount, Together wi...
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