City of Socorro, New Mexico
Notice of Adoption of
Resolution

Notice is hereby given of the title and of a general summary of the subject matter contained in Resolution No. 23-05-02, duly adopted and approved by the Governing Body of the City of Socorro, New Mexico, on May 2, 2023. A complete copy of the Resolution is available for public inspection during the normal and regular business hours of the City Clerk, 111 School of Mines Road, Socorro, New Mexico 87801.

The title of the Resolution is:

CITY OF SOCORRO, NEW MEXICO
RESOLUTION NO. 23-05-02

AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT BY AND BETWEEN THE CITY OF SOCORRO, NEW MEXICO (THE “GOVERNMENTAL UNIT”) AND THE NEW MEXICO FINANCE AUTHORITY (THE “FINANCE AUTHORITY”), EVIDENCING A SPECIAL, LIMITED OBLIGATION OF THE GOVERNMENTAL UNIT TO PAY A PRINCIPAL AMOUNT OF $976,970 TOGETHER WITH INTEREST THEREON, FOR THE PURPOSE OF PURCHASING TWO NEW COMPRESSED NATURAL GAS GARBAGE TRUCKS FOR THE CITY AND FUNDING A LOAN AGREEMENT RESERVE ACCOUNT; PROVIDING FOR THE PLEDGE AND PAYMENT OF THE PRINCIPAL AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM THE NET REVENUES OF THE SOLID WASTE UTILITY SYSTEM; APPROVING THE FORM AND TERMS OF, AND OTHER DETAILS, CONCERNING THE LOAN 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.
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 May 11, 2023

El Defensor Chieftain