RESOLUTION 2005-34 DECLARING THE INTENT OF THE VILLAGE OF CAPITAN GOVERNING BODY (the VILLAGE) TO CONSIDER FOR ADOPTION AN ORDINANCE AUTHORIZING THE EXECUTION OF LOAN AGREEMENT BY AND BETWEEN THE LINCOLN COUNTY SOLID WASTE AUTHORITY

RESOLUTION 2005-34

DECLARING THE INTENT OF THE VILLAGE OF CAPITAN GOVERNING BODY (the VILLAGE) TO CONSIDER FOR ADOPTION AN ORDINANCE AUTHORIZING THE EXECUTION OF LOAN AGREEMENT BY AND BETWEEN THE LINCOLN COUNTY SOLID WASTE AUTHORITY, OF WHICH THE VILLAGE IS A PARTICIPANT, AND THE NEW MEXICO FINANCE AUTHORITY IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,701,492 FOR THE PURPOSE TO ACQUIRE AND CONSTRUCT A SOLID WASTE FACITLIY AND TRANSFER STATION FOR THE LINCOLN COUNTY SOLID WASTE AUTHORITY AND THE RESIDENTS WHO LIVE WITHIN THE AUTHORITY’S PARTICIPANT JTJPJSDICTIONS AND DIRECTING THE VILLAGE’S ADMINISTSRATIVE STAFF TO PUBLISH NOTICE OF INTENT TO CONSIDER AN ORDINANCE AUTHORIZING SUCH LOAN AGREEMENT IN A NEWSPAPER OF GENERAL CIRCULATION WITHIN THE COUNTY.

WHEREAS, Sections 3-31-1 and 6-21-1 through 6-21-3 1 NMSA 1978 (herein the “Act”), authorize New Mexico municipalities to incur debt with the New Mexico Finance Authority for the purpose to acquire and construct solid waste facilities and transfer stations; and

WHEREAS, Village of Capitan is a participant under the Joint Powers Agreement that created the Lincoln County Solid Waste Authority (the “Authority”); and

WHEREAS, the Village desires to consider for adoption an ordinance authorizing the Authority enter into a loan agreement with the New Mexico Finance Authority in the aggregate p amount $2,701 .492 (the “Loan Agreement”) in accordance with the Act to provide funds to acquire and construct a solid waste facility and transfer station (herein the “Project”), and for the Village to pledge its Environmental Service Gross Receipts Tax Revenues, received pursuant to Section 7-20E-17, NMSA 1978, toward repayment of the Loan Agreement; and

WHEREAS, Section 3-17-3 NMSA 1978, requires that publication of the title and general summary of this subject matter of any proposed ordinance be made in a newspaper of general circulation within the county at least two weeks prior to the meeting of the governing body at which the ordinance is proposed for final passage.
BE IT RESOLVED BY THE BOARD OF VILLAGE OF CAPITAN OF LINCOLN COUNTY:
Section 1: That all action (not inconsistent with the provisions hereof) heretofore taken by the Board of the Village of Capitan and the officers thereof directed toward the Project and the authorization and execution of the Loan Agreement, therefore, be and the same is hereby ratified, approved and confirmed.
Section 2: That the administrative staff of the Village of Capitan are hereby directed, in accordance with Section 3-17-3 NMSA 1978, as amended to publish in the Ruidoso News, newspaper of general circulation within the County’s service area, a title and general summary of the ordinance relating to and authorizing execution of the Loan Agreement at least two weeks prior to the meeting at which the governing body of the Village of Capitan will consider such ordinance. The Village’s administrative staff may undertake such publications upon their own initiative and submittal of any necessary documents related to the proposed ordinance.

PASSES AND ADOPTED by the Governing Body of the Village of Capitan, Lincoln County, New Mexico on this 11th day of October, 2005
VILLAGE OF CAPITAN, NEW MEXICO

Steven M. Sederwall, Mayor

ATTEST:

Anna Gail Grassie, Village Clerk/Treasurer

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