The Village of Taos Ski Valley
Taos County, New Mexico
Notice of Meeting and Intent to Adopt Ordinance
The Village of Taos Ski Valley (the “Village”), hereby gives notice of a regular meeting of the Governing Body (the “Village Council”) to occur at 2:00 p.m. on Tuesday, May 10, 2016, at the Snakedance Condominiums, located at 110 Sutton Place, Taos Ski Valley, New Mexico. At such meeting the Village Council will consider for adoption the Ordinance described below. Complete copies of the proposed Ordinance are available to interested persons during normal and regular business hours of the Village Clerk upon request and payment of a reasonable charge in the Village Office at 7 Firehouse Road, Taos Ski Valley, New Mexico.
A copy of the agenda for this meeting will be available for inspection 72 hours prior to the meeting in the Village Office (address above). Persons wishing to comment on items listed on the agenda may submit written comments to the Village Office on or before 5:00 p.m. on the day prior to the meeting. Persons with disabilities may request accommodations no later than 5:00 p.m. on the day prior to the meeting.
The title (subject to amendment or substitution) of the proposed Ordinance is:
THE VILLAGE OF TAOS SKI VALLEY ORDINANCE NO. 2016-56
AN ORDINANCE AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT BETWEEN THE VILLAGE OF TAOS SKI VALLEY (THE “GOVERNMENTAL UNIT”) AND THE NEW MEXICO FINANCE AUTHORITY (THE “FINANCE AUTHORITY”), AND AN INTERCEPT AGREEMENT BETWEEN THE GOVERNMENTAL UNIT AND THE FINANCE AUTHORITY EVIDENCING THE SPECIAL LIMITED OBLIGATION OF THE GOVERNMENTAL UNIT TO PAY THE PRINCIPAL AMOUNT OF THE LOAN UP TO [$1,750,000.00 (ESTIMATED)], TOGETHER WITH INTEREST THEREON FOR THE PURPOSE OF DEFRAYING THE COST OF PURCHASING THE TAOS MOUNTAIN LODGE FOR USE BY THE GOVERNMENTAL UNIT, FUNDING A LOAN AGREEMENT RESERVE ACCOUNT AND PAYING A LOAN PROCESSING FEE; PROVIDING FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST DUE UNDER THE LOAN AGREEMENT SOLELY FROM THE DISTRIBUTIONS OF MUNICIPAL GROSS RECEIPTS TAX AND MUNICIPAL INFRASTRUCTURE GROSS RECEIPTS TAX REVENUES RECIVED BY THE GOVERNMENTAL UNIT PURSUANT TO NMSA 1978, SECTIONS 7-19D-9 AND 7-19D-11, AND DISTRIBUTED BY THE NEW MEXICO TAXATION AND REVENUE DEPARTMENT PURSUANT TO NMSA 1978, SECTIONS 7-1-6.1, 7-1-6.4 AND 7-1-6.15; PROVIDING FOR THE DISTRIBUTIONS OF MUNICIPAL GROSS RECEIPTS TAX AND MUNICIPAL INFRASTRUCTURE GROSS RECEIPTS TAX REVENUES FROM THE NEW MEXICO TAXATION AND REVENUE DEPARTMENT TO BE REDIRECTED TO THE FINANCE AUTHORITY OR ITS ASSIGNS FOR THE PAYMENT OF PRINCIPAL AND INTEREST DUE ON THE LOAN AGREEMENT PURSUANT TO AN INTERCEPT AGREEMENT BETWEEN THE GOVERNING BODY AND THE FINANCE AUTHORITY; RATIFYING ACTIONS HERETOFORE TAKEN; REPEALING ALL ACTION INCONSISTENT WITH THIS RESOLUTION; AND AUTHORIZING THE TAKING OF OTHER ACTIONS IN CONNECTION WITH THE EXECUTION AND DELIVERY OF THE LOAN AGREEMENT AND INTERCEPT AGREEMENT.
A general summary of the subject matter of the Ordinance is contained in its title. This Notice constitutes compliance with NMSA 1978, Section 3-17-3 (1973). THE VILLAGE COUNCIL OF TAOS SKI VALLEY, NEW MEXICO
Neal King, Mayor
By: /s/ Ann M. Wooldridge
Ann M. Wooldridge, Village Clerk