VILLAGE OF TAOS SKI VALLEY

RESOLUTION NO. 98-25

AUTHORIZING AND APPROVING SUBMISSION OF A COMPLETED APPLICATION FOR FINANCIAL ASSISTANCE AND PROJECT APPROVAL TO THE NEW MEXICO FINANCE AUTHORITY.

WHEREAS, the Village of Taos Ski Valley (“Governmental Unit”) is qualified entity under the New Mexico Authority Act, Sections 6-21-1 through 6-21-31, NMSA 1978 (“Act”) and the Village Council (“Governing Body”) is authorized to borrow funds and/or issue bonds for financing of public projects for benefit of the Governmental Unit; and

WHEREAS, the New Mexico Finance Authority (“Authority”) has instituted a program for the financing of projects from the public project revolving fund created under the Act and has developed an application procedure whereby the Governing Body may submit an application for financial assistance from the Authority for public projects; and

WHEREAS, the Governing Body intends to undertake acquisition, construction and improvement of the Village Offices (“Project”) for the benefit of the Governmental Unit and its citizens; and

WHEREAS, the application prescribed by the Authority has been completed and submitted to the Governing Body and this resolution approving submission of the completed Application to the Authority for its consideration and review is required as part of the Application.

NOW THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE VILLAGE OF TAOS SKI VALLEY:

          Section 1.     That all action (not consistent with the provision hereof) heretofore taken by the Governing Body and the officers and employees thereof directed toward the Application and the Project, be and the same is hereby ratified, approved and confirmed.

          Section 2.     That the completed Application submitted to the Governing Body, be and the same is hereby approved and confirmed.

          Section 3.     That the officers and employs of the Governing Body are hereby directed and requested to submit the completed Application to the Authority for its review and are further authorized to take such other action as may be requested by the Authority in its consideration and review of the Application and to further proceed with arrangements for financing the Project.

          Section 4.     All acts and resolutions in conflict with this resolution are hereby rescinded, annulled and repealed.

          Section 5.     This resolution shall take effect immediately upon its adoption.

PASSES, APPROVED and ADOPTED this 7th day of April, 1998.

                                                                           THE VILLAGE OF TAOS SKI VALLEY

                                                                           By __________________________

                                                                           J. Christopher Stagg, Mayor

(Seal)

ATTEST

_______________________________

       Vanessa N. Chisholm, Clerk

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