NOTICE OF SPECIAL
PUBLIC MEETING OF
MAGDALENA MUNICIPAL SCHOOL DISTRICT
SOCORRO COUNTY,
NEW MEXICO

PUBLIC NOTICE IS HEREBY GIVEN that the Board of Education of the Magdalena Municipal School District, County of Socorro, New Mexico (the "Board"), will meet in special session at 6:00 pm on April 15, 2024 at the Magdalena Municipal School District, in the Fine Arts Center, 201 Duggins, Magdalena, New Mexico, to consider a resolution granting final approval and acceptance of the $300,000 Magdalena Municipal School District, General Obligation Education Technology Lease Purchase Arrangement, Series 2024 (the "Lease").

The Lease will be entered into for the purpose of acquiring educational technology equipment as defined in the Educational Technology Equipment Act NMSA 1978 § 6-15A-3(B).

The estimated cost of the educational technology equipment required to meet the needs of the District is approximately $300,000 to facilitate the District’s Technology Plan.

The proposed terms of the Lease are:

$300,000
Magdalena Municipal School District
County of Socorro
General Obligation Educational Technology
Lease Purchase Arrangement
Series 2024

Series 2024

TYE Principal Estimated Estimated
08/1 August 1 Coupon Interest

2024 $70,000

2025 70.000

2026 70,000

TOTAL $210,000

*Preliminary and subject to change

The Lease will be negotiated with an investor. The rates of interest on the Lease will not exceed 10%. Additionally, there will be costs of the issuance of the Lease which costs of issuance include legal and financial advisory fees and other costs related to and necessary in connection with issuance of the Lease.

The Board hereby determines that there will be no new property tax to be levied to pay the required payments of principal and interest pursuant to the Lease.

Members of the public are invited and encouraged to attend the Board meeting at 6:00 pm on April 15, 2024 to express their views on the issuance of the Lease and the repayment of the Lease from property taxes or the District’s general fund.

Published in the El Defensor Chieftain on April 4 & 11, 2024

El Defensor Chieftain