NOTICE OF BOND SALE AND DELEGATION OF
AUTHORITY

MAGDALENA MUNICIPAL SCHOOL DISTRICT
COUNTY OF SOCORRO, NEW MEXICO
$700,000
GENERAL OBLIGATION SCHOOL BONDS,
SERIES 2024

PUBLIC NOTICE IS HEREBY GIVEN that pursuant to the Notice of Bond Sale and Delegation of Authority Resolution, adopted by the Board on January 15, 2024, the Superintendent (“Superintendent”) of Magdalena Municipal School District, Socorro County, New Mexico, (the “District”) or the Business Manager of the District will on or about March 28, 2024, sign a Bond Purchase Agreement for the purchase of the District’s $700,000 General Obligation School Bonds, Series 2024.

The Series 2024 Bonds will be issued as fully registered bonds and will mature on October 1, of each year as follows:

Years Amounts
Maturing Maturing*

2024 $100,000
2025 170,000
2026 30,000
2027 30,000
2028 30,000
2029 30,000
2030 30,000
2031 35,000
2032 35,000
2033 35,000
2034 35,000
2035 35,000
2036 35,000
2037 35,000
2038 35,000

TOTAL $700,000

*Preliminary and subject to change.

The Bonds constitute a portion of the bonds that were authorized at a regular election held on November 7, 2023, and will constitute general obligation debt of the District, payable from general (ad valorem) taxes that may be levied against all taxable property within the District, without limitation as to rate or amount.

The maximum net effective interest rate permitted on the Bonds is ten percent (10%).

The validity and enforceability of the Bonds will be approved by the New Mexico Attorney General, and by Modrall, Sperling, Roehl, Harris & Sisk, P.A., Attorneys at Law, Albuquerque, New Mexico.

Published in the El Defensor Chieftain on January 18, 2024

El Defensor Chieftain