Title
Incorporated County of Los Alamos Ordinance No. 703; Authorizing the Execution and Delivery of a Water Project Fund Loan/Grant Agreement with the New Mexico Finance Authority for the Construction of a New One Million Gallon Effluent Water Storage Tank
Recommended Action
I introduce, without prejudice, Incorporated County of Los Alamos Ordinance No. 703; 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 $900,000, 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 New One Million Gallon Effluent Water Storage Tank 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 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, and ask staff to assure that it is published as provided in the County Charter.
Utilities Manager Recommendation
The Utilities Manager recommends that Council introduce Ordinance No. 703 as presented.
Board, Commission or Committee Recommendation
The Board of Public Utilities recommends that Council introduce Ordinance No. 703 as presented.
Body
The project is to construct a new effluent water storage tank. The tank will be located next to the existing Bayo booster station which is in Pueblo Canyon adja...
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