City of Las Cruces, New Mexico Notice of Adoption of Ordinance

City of Las Cruces, New Mexico Notice of Adoption of Ordinance Notice is hereby given of the title and of a general summary of the subject matter contained in Ordinance No. 3116, duly adopted and approved by the Governing Body of the City of Las Cruces, New Mexico (the "City"), on July 20, 2026. Complete copies of the Ordinance are available for public inspection during the normal and regular business hours of the City Clerk, 700 North Main Street, Las Cruces, New Mexico. The title of the Ordinance is: AN ORDINANCE AUTHORIZING THE EXECUTION AND DELIVERY OF A $3,065,000 LOAN AGREEMENT FOR FLOOD CONTROL INFRASTRUCTURE IMPROVEMENT PROJECTS AND PAYING THE COSTS OF EXECUTION OF THE LOAN AGREEMENT WITH SUCH LOAN AGREEMENT TO BE SECURED BY A LIEN ON THE FIFTH QUARTER PERCENT INCREMENT OF MUNICIPAL GROSS RECEIPTS TAX AND THE HOLD HARMLESS DISTRIBUTIONS ASSOCIATED WITH THE FIFTH QUARTER PERCENT INCREMENT OF MUNICIPAL GROSS RECEIPTS TAX. A general summary of the subject matter of the Ordinance is: The Ordinance authorizes execution and delivery of a Loan Agreement and Intercept Agreement between the City and the New Mexico Finance Authority. The loan will be in the amount not to exceed $3,065,000 with the final terms of the Loan Agreement and Intercept Agreement to be approved by the Delegate pursuant to the Supplemental Public Securities Act. The proceeds of the loan will be used for flood control infrastructure improvement projects. The loan will be secured by the revenues derived from the fifth quarter percent increment of municipal gross receipts tax imposed pursuant to Ordinance No. 1135 adopted on March 26, 1990, with an effective date of July 1, 1990, as amended by City Ordinance No. 1760, adopted on July 27, 1999. The forms of the Loan Agreement and Intercept Agreement are approved along with the details of the loan to be determined by the Delegate within the parameters set forth in this Ordinance. Prior actions of City officials relating to the loan are ratified and further actions are authorized. This notice constitutes compliance with Section 6-14-6, NMSA 1978. July 24 2026 LACO0561050