City of Roswell AgendaPacket Regular City Council Meeting 2026-06-11
Roswell Seeks $25.1M NMFA Loan for Flood Recovery
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Description
The City of Roswell is seeking to enter into a loan agreement with the New Mexico Finance Authority for up to $25.1 million to fund flood recovery projects. Proceeds will be used to improve infrastructure and facilities affected by flood damage. Repayment will come solely from the city's dedicated flood recovery gross receipts tax, with the agreement set to mature by June 2046.
Contract Details
Contract Amount
Not to exceed $25,100,000
Vendor
NEW MEXICO FINANCE AUTHORITY
Agency
City of Roswell, NM
Contract Type
FINANCIAL_SERVICES
Document Date
June 11, 2026
Contract Term
Matures no later than June 1, 2046
Renewal Date
2046-06-01
Renewal Info
No automatic renewal; agreement persists until all obligations are paid or discharged. Amendments possible only with NMFA consent. Sale certificate will set final terms.
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