Notice of Meeting, Public Hearing

City of Elephant Butte, New Mexico
Notice of Meeting, Public Hearing
and Intent to Adopt Ordinance #150

The City of Elephant Butte, New Mexico, hereby gives notice of a regular City Council meeting for Wednesday, April 1, 2015, at 2:00 p.m., at the City Administrative Offices, 103 Water Street, Elephant Butte, New Mexico. At such meeting, the City Council will consider for adoption Ordinance #150 described below. Complete copies of the proposed ordinance are available for public inspection during the normal and regular business hours of the City Clerk-Treasurer, Elephant Butte, New Mexico.
The title of the Ordinance is:
AUTHORIZING THE ISSUANCE OF THE CITY OF ELEPHANT BUTTE, NEW MEXICO GROSS RECEIPTS TAX IMPROVEMENT REVENUE BONDS, SERIES 2015 IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $550,000 FOR THE PURPOSE TO (1) FINANCE ACQUISITION AND CONSTRUCTION OF CERTAIN CAPITAL IMPROVEMENTS FOR THE BENEFIT OF THE CITY AND ITS RESIDENTS, INCLUDING CERTAIN ROAD IMPROVEMENTS AND ACQUISITION OF PUBLIC BUILDINGS, AND (2) PAY COSTS OF ISSUANCE OF THE SERIES 2015 BONDS; PROVIDING THAT THE SERIES 2015 BONDS WILL BE PAYABLE AND COLLECTIBLE FROM AND SECURED BY A PLEDGE OF THE 1/4 PERCENT (0.25%) MUNICIPAL GROSS RECEIPTS TAX DISTRIBUTED TO THE CITY PURSUANT TO SECTION 7-19D-9 NMSA 1978, AS AMENDED, AND CITY ORDINANCE NO. 26 ADOPTED MARCH 3, 1999; PROVIDING FOR THE DISPOSITION OF THE RECEIPTS DERIVED FROM SAID TAX PROCEEDS; PROVIDING THAT CERTAIN TERMS OF THE BONDS WILL BE PROVIDED IN A SUBSEQUENT RESOLUTION; PRESCRIBING OTHER DETAILS CONCERNING THE BONDS AND TAX PROCEEDS, INCLUDING BUT NOT LIMITED TO COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH AND THE FORM, TERMS, CONDITIONS AND MANNER OF EXECUTION OF THE BONDS; RATIFYING ALL ACTION PREVIOUSLY TAKEN IN CONNECTION THEREWITH; AND REPEALING ORDINANCES IN CONFLICT HEREWITH.
The title sets forth a general summary of the subject matter contained in Ordinance #150. This notice constitutes compliance with Section 3-17-3 NMSA 1978.