City of Alamogordo Commission Meeting Agenda April 28, 2026
City selects Bank of Albuquerque for natatorium financing
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Description
The Alamogordo City Commission authorized up to $12.865 million in bond or loan financing through Bank of Albuquerque to construct a new natatorium, secured by the 0.125% Municipal Infrastructure Gross Receipts Tax. The financing is structured as a long-term obligation with a seven-year balloon and an interest rate capped at 6%.
Contract Details
Contract Amount
Up to $12,865,000 (bond/loan principal)
Vendor
BANK OF ALBUQUERQUE
Agency
Housing Authority of the city of Alamogordo, NM
Contract Type
FINANCIAL_SERVICES
Document Date
April 28, 2026
Contract Term
Up to 25 years overall, with a 7-year balloon structure contemplated; fixed rate not to exceed 6% interest
Renewal Info
Ordinance authorizes issuance up to $12,865,000; structure anticipated as a 7-year balloon with potential refinancing after year 5–7. No automatic renewal; future refinancing would require separate actions.
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Housing Authority of the city of Alamogordo
Local Housing Authority
Alamogordo, NM
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