Resolution 25-XX – Consider recommending adoption of Resolution 24-XX to seek approval for the disposal of City-owned assets that were damaged, destroyed or rendered unusable due to the flood event on October 19-20, 2024. This action is necessary to comply with New Mexico State Statute NMSA Section 3-54-2 that authorizes the City to dispose of personal property. Approval of a formal resolution authorizing the disposal of flood-damaged assets, ensuring compliance with state law and auditing requirements. The resolution: 
1. Identifies specific assets for disposal.
2. Authorizes the Finance Department to carry out the appropriate disposal process.
3. Ensures compliance with NMSA 3-54-2, including proper notification to the NM Department of Finance.
4. Documents the asset removal process for auditing and transparency purposes. (Garcia)

Initiated by: Deanna Garcia

On October 19-20, 2024, severe flooding impacted the City of Roswell, causing significant damage to municipal assets. A thorough assessment by departments determined that multiple City-owned items were swept away, irreparably damaged, or beyond economic repair. In accordance with NMSA 3-54-2, assets that are obsolete, unusable, or destroyed require official authorization for disposal.

There is no direct financial gain from the disposal of these assets, as they are either lost or beyond repair and will not be sold at auction or through negotiated sale. The resolution will ensure that the City’s asset records are updated to reflect these losses and maintain proper accounting for financial reporting and compliance.

The resolution was submitted to Legal for review.

Finance Committee will be the first to hear this item.

Consider recommendation of adoption of Resolution 25-XX for the disposal of City-owned assets that were damaged, destroyed or rendered unusable due to the flood event on October 19-20, 2024.