Common Contracts
1 similar Loan Agreement contracts
CITY OF GALLUP, NEW MEXICO ORDINANCE NO. S2022-4Loan Agreement • August 19th, 2022
AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT BY AND BETWEEN THE CITY OF GALLUP, 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 UP TO $6,075,000, TOGETHER WITH INTEREST THEREON, TO FINANCE THE (I) DESIGN, CONSTRUCTION AND EQUIPPING OF A WASTEWATER RECLAMATION LINE AND RELATED IMPROVEMENTS, INCLUDING ACQUIRING EQUIPMENT FOR SUCH PURPOSES, AND (II) PAYMENT OF COSTS OF ISSUANCE; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM THE NET REVENUES OF THE CITY’S JOINT UTILITY SYSTEM; DELEGATING AUTHORITY TO MAKE CERTAIN DETERMINATIONS CONCERNING THE TERMS OF THE LOAN AGREEMENT; 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 LOAN AGREEMENT.
