{"MatterId":14759,"MatterGuid":"C7568478-94AB-47BE-B18C-41B82CBE1CCF","MatterLastModifiedUtc":"2026-07-22T16:04:12.85","MatterRowVersion":"AAAAAADOoSg=","MatterFile":"R-26-10","MatterName":null,"MatterTitle":"F/S Authorizing The Giving Of Notices For Bids For The Sale Of City Of Albuquerque, New Mexico General Obligation Bonds Consisting Of $56,360,000 General Obligation General Purpose Bonds, Series 2026A, And $8,250,000 General Obligation Storm Sewer Bonds, Series 2026B (Grout, by request)","MatterTypeId":4,"MatterTypeName":"Resolution","MatterStatusId":20,"MatterStatusName":"Enacted","MatterBodyId":1,"MatterBodyName":"City Council","MatterIntroDate":"2026-03-16T00:00:00","MatterAgendaDate":null,"MatterPassedDate":"2026-04-20T00:00:00","MatterEnactmentDate":"2026-04-29T00:00:00","MatterEnactmentNumber":"R-2026-017","MatterRequester":null,"MatterNotes":null,"MatterVersion":"4","MatterCost":null,"MatterText1":null,"MatterText2":null,"MatterText3":null,"MatterText4":null,"MatterText5":null,"MatterDate1":null,"MatterDate2":null,"MatterEXText1":"CC 4/20/26 (lr)\r\n\r\nBrief Summary: Approval of this bill would authorize and direct the City Clerk to publish and distribute notices for a competitive sale of City of Albuquerque General Obligation (GO) Bonds totaling $64,610,000 for Series 2026A (General Purpose) and Series 2026B (Storm Sewer), and facilitate related actions for the broader bond issuance totaling $89,610,000, including a separately authorized private placement (Series 2026C). The bonds were previously authorized by voters in the November 4, 2025 municipal election and support capital projects identified in the Decade Plan.\r\n\r\nAnalysis: This resolution initiates the procedural steps required to issue voter-approved GO bonds by authorizing the publication of a Notice of Bond Sale and related official documents. \r\n\r\nThe resolution authorizes a competitive public sale for two bond series: $56.36 million in General Purpose GO Bonds (Series 2026A) and $8.25 million in Storm Sewer GO Bonds (Series 2026B), for a combined $64.61 million. These bonds are backed by the City’s full faith and credit and are payable from property taxes.\r\n\r\n$25 million in short-term taxable GO bonds (Series 2026C), is to be sold privately to the State of New Mexico pursuant to Section 6-15-5 NMSA 1978, with terms to be established in a separate ordinance.\r\n\r\nProceeds from the Series 2026A bonds are allocated across multiple capital categories, including public safety, parks and recreation, streets, libraries, and cultural facilities, consistent with voter-approved purposes. The Series 2026B bonds are designated for storm sewer improvements.\r\n\r\nFiscal Analysis: The total bond issuance associated with this resolution is $89,610,000, consisting of $64,610,000 in competitively sold bonds (Series 2026A and 2026B) and $25,000,000 in privately placed bonds (Series 2026C).\r\n\r\nThe city’s Policy is that debt service on the bonds will be repaid from property tax revenues, primarily within Fund 415 (Debt Service Fund), with the City’s general fund obligated to cover any shortfall if necessary.\r\nEstimated debt service totals approximately $36.0 million across FY26–FY28 for the initial years shown, with minimal impact in FY26 and increasing obligations in FY27 and FY28.\r\n\r\nKey Dates: \r\nBond sale (competitive bid): May 6, 2026, with bids accepted between 8:30 a.m. and 9:00 a.m. MST\r\n\r\nAward of bonds: By 4:00 p.m. on May 6, 2026.\r\n\r\nAnticipated bond closing/delivery: On or about May 27, 2026.\r\n\r\nPrivate placement (Series 2026C): Placement with State Treasurer on or about June 30, 2026; payoff by July 1, 2026.\r\n\r\nInitial interest payments: Beginning July 1, 2027.\r\n\r\nComments: This resolution is intended to implement the bond sale following Council approval of the authorizing ordinance (O-26-20) which authorizes the issuance and sale of the Series 2026 General Obligation Bonds, establishes the terms and conditions of the bonds, and provides the legal framework for their issuance and repayment.\r\n\r\nCommittee Update: This item was approved by the Finance & Government Operations Committee on April 13, 2026, on a vote of 5:0.\r\n\r\n\r\nFGO 4/13/26 (lr)\r\n\r\nBrief Summary: Approval of this bill would authorize and direct the City Clerk to publish and distribute notices for a competitive sale of City of Albuquerque General Obligation (GO) Bonds totaling $64,610,000 for Series 2026A (General Purpose) and Series 2026B (Storm Sewer), and facilitate related actions for the broader bond issuance totaling $89,610,000, including a separately authorized private placement (Series 2026C). The bonds were previously authorized by voters in the November 4, 2025 municipal election and support capital projects identified in the Decade Plan.\r\n\r\nAnalysis: This resolution initiates the procedural steps required to issue voter-approved GO bonds by authorizing the publication of a Notice of Bond Sale and related official documents. \r\n\r\nThe resolution authorizes a competitive public sale for two bond series: $56.36 million in General Purpose GO Bonds (Series 2026A) and $8.25 million in Storm Sewer GO Bonds (Series 2026B), for a combined $64.61 million. These bonds are backed by the City’s full faith and credit and are payable from property taxes.\r\n\r\n$25 million in short-term taxable GO bonds (Series 2026C), is to be sold privately to the State of New Mexico pursuant to Section 6-15-5 NMSA 1978, with terms to be established in a separate ordinance.\r\n\r\nProceeds from the Series 2026A bonds are allocated across multiple capital categories, including public safety, parks and recreation, streets, libraries, and cultural facilities, consistent with voter-approved purposes. The Series 2026B bonds are designated for storm sewer improvements.\r\n\r\nFiscal Analysis: The total bond issuance associated with this resolution is $89,610,000, consisting of $64,610,000 in competitively sold bonds (Series 2026A and 2026B) and $25,000,000 in privately placed bonds (Series 2026C).\r\n\r\nThe city’s Policy is that debt service on the bonds will be repaid from property tax revenues, primarily within Fund 415 (Debt Service Fund), with the City’s general fund obligated to cover any shortfall if necessary.\r\n\r\nEstimated debt service totals approximately $36.0 million across FY26–FY28 for the initial years shown, with minimal impact in FY26 and increasing obligations in FY27 and FY28.\r\n\r\nKey Dates: \r\nBond sale (competitive bid): May 6, 2026, with bids accepted between 8:30 a.m. and 9:00 a.m. MST\r\n\r\nAward of bonds: By 4:00 p.m. on May 6, 2026.\r\n\r\nAnticipated bond closing/delivery: On or about May 27, 2026.\r\n\r\nPrivate placement (Series 2026C): Placement with State Treasurer on or about June 30, 2026; payoff by July 1, 2026.\r\n\r\nInitial interest payments: Beginning July 1, 2027.\r\n\r\nComments: This resolution is intended to implement the bond sale following Council approval of the authorizing ordinance (O-26-20) which authorizes the issuance and sale of the Series 2026 General Obligation Bonds, establishes the terms and conditions of the bonds, and provides the legal framework for their issuance and repayment.","MatterEXText2":"Laura Rummler","MatterEXText3":null,"MatterEXText4":null,"MatterEXText5":null,"MatterEXText6":null,"MatterEXText7":null,"MatterEXText8":null,"MatterEXText9":null,"MatterEXText10":null,"MatterEXText11":null,"MatterEXDate1":null,"MatterEXDate2":null,"MatterEXDate3":null,"MatterEXDate4":null,"MatterEXDate5":null,"MatterEXDate6":null,"MatterEXDate7":null,"MatterEXDate8":null,"MatterEXDate9":null,"MatterEXDate10":null,"MatterAgiloftId":0,"MatterReference":"27","MatterRestrictViewViaWeb":false,"MatterReports":[]}