Title
Incorporated County of Los Alamos Ordinance No. 711: Loan/Grant Agreement with the New Mexico Finance Authority for Wastewater Plant Filtration System (Water Trust Board Loan/Grant)
Full Title:
Incorporated County of Los Alamos Ordinance No. 711, 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 $2,500,000, 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 filtration treatment process at the wastewater treatment plant and paying an administrative fee, and solely in the manner described in the loan/grant agreement; providing for the pledge and payment of the loan amount solely from net revenues of the water and wastewater 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. 711, an Ordinance authorizing the execution and delivery of a Water Project Fund Loan/Grant Agreement between the New Mexico Finance Authority and the County in the total amount of $2,500,000 for the purpose of constructing a filtration treatment process at the Los Alamos Wastewater Treatment Plant.
Utilities Manager Recommendation
The County Manager recommends that Council approve the motion as presented.
Board, Commission, or Committee Recommendation
This Ordinance was introduced at the Nov...
Click here for full text