Description
Title: Authorizing The Issuance And Sale Of City Of Albuquerque, New Mexico General Obligation Bonds, Series 2026, In Three Series In A Collective Par Amount Not To Exceed $89,610,000, Consisting Of (I) $56,360,000 General Purpose General Obligation Bonds, Series 2026A, (II) $8,250,000 General Obligation Storm Sewer Bonds, Series 2026B, And (III) $25,000,000 Short-Term General Obligation Bonds, Taxable Series 2026C (The Series 2026A Bonds, Series 2026B Bonds And Series 2026C Bonds, Collectively, Are Referred To As The “Series 2026 Bonds”), Authorized At An Election Of The City Held On November 4, 202
Summary
The City of Albuquerque's proposed legislation, Council Bill O-26-20, authorizes the issuance of General Obligation Bonds totaling up to $89,610,000, divided into three series: $56,360,000 for general purposes, $8,250,000 for storm sewer improvements, and $25,000,000 in short-term taxable bonds. These funds will finance various capital improvement projects, including public safety enhancements, community centers, parks, energy and water conservation initiatives, and infrastructure upgrades. The bonds, approved by voters in the November 2025 election, will be repaid through property tax revenues. If not approved, essential city projects outlined in the 2023-2032 Decade Plan will lack necessary funding,