| 2019-1315(PDF) |
Authorizing the issuance, sale and delivery of the City of Farmington, New Mexico Municipal Gross Receipts Tax Improvement Revenue Bonds, Series 2019 in an aggregate principal amount not to exceed $12,500,000 for the purpose of defraying the costs of designing, engineering, constructing, acquiring and improving streets and traffic improvements, and paying costs of issuance of the Series 2019 Bonds; providing that the bonds will be payable from municipal gross receipts tax revenues distributed to the City pursuant to Section 7-1-6.12 NMSA 1978, providing that the maturity dates, principal amounts, interest rates, redemption provisions and other details of the bonds will be established in a bond purchase agreement and pricing certificate, and delegating authority to the City Manager and City Administrative Services Director to approve the final terms of the bonds and to execute and deliver the bond purchase agreement; providing for the execution of the bonds and other documents and agreements relating to the bonds by authorized officers of the City; ratifying action previously taken in connection therewith; and repealing all ordinance in conflict herewith. |