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Alamogordo commission votes to authorize up to $12.87 million for natatorium funding, delegates loan choice to staff
Summary
After weeks of financing work and a last-minute removal from the state bond sale, the city commission approved an ordinance allowing up to $12,865,000 in bonds or loans to fund a new natatorium and delegated authority to the mayor, city manager and finance director to finalize the best financing option within set limits.
The Alamogordo City Commission voted 7-0 to approve final publication of Ordinance 17-22, authorizing up to $12,865,000 in bonds or loans to fund construction of a long‑planned natatorium and directing city officials to accept the most favorable financing terms within parameters set by the commission.
The measure, introduced by the finance team, preserves a limited pledge of the 0.125% municipal infrastructure gross receipts tax for repayment and includes a maximum interest cap set by the commission. "We are back in front of you today to discuss funding of the new natatorium," Finance Director Evelyn Huff told commissioners during the presentation.
Why it matters: The project was previously slated to go through the New Mexico Finance Authority (NMFA), but the city was removed from…
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