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Farmington adopts $8.7 million loan/grant agreement for La Plata waterline project
Summary
The council adopted Ordinance No. 2026‑13‑82 authorizing a loan/grant agreement with the New Mexico Finance Authority totaling $8,717,363 (including a $5,230,418 loan) to finance construction and upgrades to the La Plata waterline; the measure carried 3–0.
Farmington’s City Council voted to adopt an ordinance authorizing a loan/grant agreement with the New Mexico Finance Authority to finance the La Plata waterline project.
City Attorney Burkell read the ordinance on the council agenda as Ordinance No. 2026‑13‑82, describing a total financing package of $8,717,363, which includes a loan component of $5,230,418 and related provisions that pledge net system revenues of the water utility to repay the loan and administrative fee. The ordinance approves the form of the loan/grant agreement, ratifies related prior actions and authorizes city officials to take necessary implementation steps.
Councilor Rogers moved to adopt the ordinance; the motion was seconded and the council approved it by voice vote recorded as 3–0.
Council members noted the item had been discussed in multiple prior meetings and described the La Plata waterline as a long‑awaited project to upgrade water infrastructure. The ordinance was published on Dec. 29, 2025, per the reading on the agenda.
The adoption authorizes the city manager and other officials to finalize and execute the loan/grant agreement in the form approved by the ordinance.
