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Category: Legal Notices Legal Notices
Published: 21 February 2018 21 February 2018

NOTICE OF INTENT TO ADOPT

CITY OF BAYARD

The City of Bayard hereby gives public notice of the intent to adopt:

AN ORDINANCE AUTHORIZING THE CITY OF BAYARD ("BORROWER") TO ENTER INTO A LOAN AGREEMENT WITH THE NEW MEXICO ENVIRONMENT DEPARTMENT ("NMED") FOR THE PURPOSE OF OBTAINING PROJECT LOAN FUNDS IN THE PRINCIPAL AMOUNT OF $11,920.64 AT 0% INTEREST; AND LOAN SUBSIDY GRANT FUNDS IN THE AMOUNT OF $70,079.36; THE TOTAL FUNDED AMOUNT IS $82,000.00; DESIGNATING THE USE OF THE FUNDS FOR THE PURPOSE DEFINED IN THE MOST CURRENT PROJECT DESCRIPTION FORM AS APPROVED BY NMED; DECLARING THE NECESSITY FOR THE LOAN; PROVIDING THAT THE LOAN WILL BE PAYABLE AND COLLECTIBLE SOLELY FROM THE BORROWER'S PLEDGED REVENUES DEFINED BELOW; PRESCRIBING OTHER DETAILS CONCERNING THE LOAN AND THE SECURITY THEREFOR.

Any public comment must be submitted to the City Clerk between February 22, 2018 and March 7, 2018 at City of Bayard, 800 Central Avenue, Bayard, NM 88023.

Consideration of the final ordinance will not take place until at least two weeks (14) days subsequent to the date of this notice, and only at a public meeting called and held in accordance with S10-5-1 et seq. NMSA 1978 comp. Copies of the proposed ordinance may be obtained at the Bayard City Hall.

Consideration is currently scheduled for and will not take place prior to March 12, 2018 for final adoption.

Kristina Ortiz, MMC
Clerk-Treasurer