Mayor Tim Keller, City of Albuquerque | City of Albuquerque
Mayor Tim Keller, City of Albuquerque | City of Albuquerque
The City of Albuquerque has announced the issuance and sale of a new taxable industrial revenue bond. This financial instrument, known as Council Bill No. O-24-45, is part of an effort to support Project Maia. The maximum principal amount set for this bond is $300 million.
The ordinance authorizes the funds to be used for various purposes related to advanced energy technology research and development facilities. These include acquisition, renovation, development, expansion, improvement, and equipping tasks.
Nichole Rogers sponsors this initiative aimed at boosting technological advancement in the city. The ordinance includes provisions for executing and delivering several key documents associated with the bond's issuance and Project Maia. These documents comprise an amended and restated indenture, lease agreement, bond purchase agreement, and other relevant paperwork.
Additionally, certain determinations and findings related to the bond and project have been made within this ordinance. Previous actions connected to this initiative have been ratified while any inconsistent actions are repealed.
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