The Village of Magdalena, New Mexico
Notice of Adoption
Notice is hereby given of the title and of a general summary of the subject matter contained in Resolution No. 2021-13, duly adopted and approved by the Governing Body of the Village of Magdalena, New Mexico, on September 27, 2021. A complete copy of the Resolution is available for public inspection during the normal and regular business hours of the Clerk/Treasurer, 108 N. Main Street, Magdalena, New Mexico.
The title of the Resolution is:
VILLAGE OF MAGDALENA, NEW MEXICO
RESOLUTION NO. 2021-13
AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT AND INTERCEPT AGREEMENT BETWEEN THE VILLAGE OF MAGDALENA, NEW MEXICO (THE “GOVERNMENTAL UNIT”) AND THE NEW MEXICO FINANCE AUTHORITY, EVIDENCING A SPECIAL, LIMITED OBLIGATION OF THE GOVERNMENTAL UNIT TO PAY A PRINCIPAL AMOUNT OF $66,416, TOGETHER WITH INTEREST THEREON, FOR THE PURPOSE OF ACQUIRING A NEW POLICE VEHICLE AND RELATED EQUIPMENT FOR THE GOVERNMENTAL UNIT; PROVIDING FOR THE PLEDGE AND PAYMENT OF PRINCIPAL AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM STATE LAW ENFORCEMENT PROTECTION FUND REVENUES DISTRIBUTED BY THE STATE TREASURER TO THE GOVERNMENTAL UNIT PURSUANT TO SECTION 29-13-6, NMSA 1978; PROVIDING FOR THE DISTRIBUTION OF STATE LAW ENFORCEMENT PROTECTION FUND REVENUES TO BE REDIRECTED BY THE STATE TREASURER TO THE NEW MEXICO FINANCE AUTHORITY OR ITS ASSIGNS FOR THE PAYMENT OF PRINCIPAL AND INTEREST DUE ON THE LOAN AGREEMENT PURSUANT TO AN INTERCEPT AGREEMENT; APPROVING THE FORM AND TERMS OF, AND OTHER DETAILS CONCERNING THE LOAN AGREEMENT AND INTERCEPT AGREEMENT; SETTING THE MAXIMUM INTEREST RATE OF THE LOAN; RATIFYING ACTIONS HERETOFORE TAKEN; REPEALING ALL ACTION INCONSISTENT WITH THIS RESOLUTION; AND AUTHORIZING THE TAKING OF OTHER ACTIONS IN CONNECTION WITH THE EXECUTION AND DELIVERY OF THE LOAN AGREEMENT AND INTERCEPT AGREEMENT.
A general summary of the subject matter of the Resolution is contained in its title. This notice constitutes compliance with Section 6-14-6, NMSA 1978.
Published in the El Defensor Chieftain on September 30, 2021