Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Alamogordo approves first publication to borrow about $12.87 million for municipal natatorium; $4 million in local GRT rededicated
Summary
The City Commission approved first publication of Ordinance 17-22 to pursue a roughly $12.865 million loan through the New Mexico Finance Authority for a municipal natatorium and clarified rededication of a 0.125% municipal infrastructure gross receipts tax and $4 million of fund balance toward the pool.
The Alamogordo City Commission on Feb. 24 approved first publication of an ordinance that would allow the city to borrow roughly $12.865 million to construct a municipal natatorium, and staff described how a previously dedicated municipal infrastructure gross receipts tax and a $4 million dedicated fund balance will be applied to the project.
City attorneys and finance advisers explained that Ordinance 17-22, as presented for first publication, authorizes a loan and related intercept agreement so the city can secure financing through the New Mexico Finance Authority (NMFA). City staff said the $12.865 million figure includes issuance…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
