ROSWELL NEW MEXICO
AGENDA ITEM ABSTRACT
AGENDA ITEM ABSTRACT
12.
Finance Committee
- Meeting Date:
- 06/04/2026
COMMITTEE:
Finance
CONTACT:
Tammi Smith
CHAIR:
Kurt Gass
ACTION REQUESTED:
Consider recommending approval of Resolution 26-XX: The redemption of Outstanding Joint Water and Sewer Improvement Revenue Bonds (Rogers)
BACKGROUND:
Initiated by: Mac Rogers
Requesting the approval and authorization of the redemption of Outstanding Joint Water and Sewer Improvement Revenue Bonds. This action would allow the City to proceed with the redemption of Bonds issued on February 21, 2017 pursuant to Ordinance No. 16-22 adopted on January 12, 2017 in an amount not to exceed $11,7500,000.
Requesting the approval and authorization of the redemption of Outstanding Joint Water and Sewer Improvement Revenue Bonds. This action would allow the City to proceed with the redemption of Bonds issued on February 21, 2017 pursuant to Ordinance No. 16-22 adopted on January 12, 2017 in an amount not to exceed $11,7500,000.
FINANCIAL CONSIDERATION
Allows for the City pay a principal amount not to exceed $11,750,000
LEGAL REVIEW:
The Legal Committee considered this item at their May 28th meeting and voted 5-0 recommending approval to Finance Committee.
BOARD AND COMMITTEE ACTION:
This is the first Council consideration of this item
STAFF RECOMMENDATION:
Proceed as presented.