| | | | | | | | AGENDA MEMORANDUM
Village of Ruidoso Public Hearings - 2. |
| | | | | | | | To:
| Mayor Crawford and Councilors
| Presenter(s):
| Christella Armijo, Water Resource Director
| Meeting Date:
| June 13, 2023
| Re:
| Public Hearing for Ordinance 2023-05, to Authorize the Village of Ruidoso to Enter into a Loan Agreement with the New Mexico Environment Department for the Purpose of Obtaining Project Funds for a Stormwater Management Plan in the Principal Amount of $100,000, and Loan Subsidy Grant Funds in the Amount of $250,000 for a Total Funded Amount of $350,000.
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| | | | | | | | Item Summary:
Public Hearing for Ordinance 2023-05, to Authorize the Village of Ruidoso to Enter into a Loan Agreement with the New Mexico Environment Department for the Purpose of Obtaining Project Funds for a Stormwater Management Plan in the Principal Amount of $100,000, and Loan Subsidy Grant Funds in the Amount of $250,000 for a Total Funded Amount of $350,000. |
| | | | | | | | Financial Impact:
Upon executed loan agreement finance will complete a budget adjustment in the SGRT special revenue fund to increase both revenues and expenses. |
| | | | | | | | Item Discussion:
An Ordinance Must be Submitted to the New Mexico Environment Department in Order to Accept Loan and Grant Funds for the Purpose of Funding a Stormwater Management Project. |
| | | | | | | | Recommendations:
To Adopt Ordinance 2023-05, to Authorize the Village of Ruidoso to Enter into a Loan Agreement with the New Mexico Environment Department for the Purpose of Obtaining Project Funds for a Stormwater Management Plan in the Principal Amount of $100,000, and Loan Subsidy Grant Funds in the Amount of $250,000 for a Total Funded Amount of $350,000. |
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