CITY OF BAYARD

LEGAL NOTICE

The Bayard City Council during an open meeting on Monday, March 12, 2018 passed and approved Ordinance 1-2018.

ORDINANCE NO. 1-2018

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.

PASSED, APPROVED AND ADOPTED this 12th day of March 208.
_____________________________
Chon S. Fierro
Mayor

ATTEST:

_______________________________
Kristina Ortiz, MMC
Clerk Treasurer

Copies of Ordinance 1-2018 may be picked up at Bayard City Hall 800 Central Avenue, Bayard, New Mexico 88023. Questions may be addressed to Kristina Ortiz, City Clerk at (575) 537-3327 or by writing at City of Bayard P.O. Box 728, Bayard, NM 88023