Socorro County,
New Mexico
Notice of Adoption of
Ordinance


Notice is hereby given of the title and of a general summary of the subject matter contained in Ordinance No. 2021-02 duly adopted and approved by the County Commission of the County of Socorro, New Mexico, on August 24, 2021. A complete copy of the Ordinance is available for public inspection during the normal and regular business hours of the County Manager, 210 Park Street, Socorro, New Mexico.

SOCORRO COUNTY, NEW MEXICO
ORDINANCE NO. 2021-02

AUTHORIZING THE EXECUTION AND DELIVERY OF A LEASE-PURCHASE AGREEMENT BY AND BETWEEN THE COUNTY OF SOCORRO, NEW MEXICO (THE “COUNTY”) AND A LESSOR, EVIDENCING A SPECIAL, LIMITED OBLIGATION OF THE COUNTY TO PAY AN AMOUNT OF UP TO $2,600,000, TOGETHER WITH INTEREST THEREON, FOR THE PURPOSE OF ACQUIRING, INSTALLING, AND EQUIPPING ENERGY EFFICIENCY AND WATER CONSERVATION MEASURES THROUGHOUT THE COUNTY; PROVIDING FOR THE PLEDGE AND PAYMENT OF THE AMOUNTS DUE UNDER THE LEASE-PURCHASE AGREEMENT SOLELY FROM THE GUARANTEED UTILITY COST SAVINGS, CONSERVATION RELATED COST SAVINGS AND PAYMENTS RECEIVED BY THE COUNTY PURSUANT TO A GUARANTEED UTILITY SAVINGS CONTRACT BY AND BETWEEN THE COUNTY AND YEAROUT ENERGY SERVICES COMPANY, LLC; PROVIDING THAT CERTAIN TERMS OF THE LEASE-PURCHASE AGREEMENT WILL BE ESTABLISHED IN A PRICING CERTIFICATE TO BE EXECUTED AND DELIVERED AS AUTHORIZED PURSUANT TO SECTION 6-14-10.2 NMSA 1978; 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 LEASE-PURCHASE AGREEMENT.
A summary of the subject matter of the Ordinance is contained in its title.

Published in the El Defensor Chieftain on September 2, 2021

El Defensor Chieftain