Loading...
All balances in the Permanent Fund created by Resolution No. 41-1982, as amended by Resolution No. 73-1986, are hereby perpetuated in §§ 4-2-3-1 et seq., but the fund shall now be called the “Robert M. White Open Space Trust Fund.”
('74 Code, § 4-11-2) (Ord. 72- 1988; Am. Ord. 2015-028; Am. Ord. 2023-034)
(A) Some land within the Elena Gallegos Grant acquired by the City was traded by the City to the United States for inclusion in the Cibola National Forest and the lands acquired in exchange (the “Open Space Exchange Lands”) shall be sold, leased, or exchanged. The cash proceeds from any sales, leases, or exchanges of Open Space Exchange Lands will be placed in the Robert M. White Open Space Trust Fund perpetuated by §§ 4-2-3-1 et seq. PROCEEDS shall mean the net purchase price paid to the City of Albuquerque for the land after deduction of all costs incurred in the marketing or sale of the land. Income derived from the proceeds and other consideration not included in proceeds shall be utilized as provided for other income in § 4-2-3-4.
(B) If Open Space Exchange Lands are traded for land which is not Major Public Open Space as defined by adopted City plans, but is intended for ultimate sale or other disposal, no proceeds will be required to be deposited into the Robert M. White Open Space Trust Fund or payment made to the Albuquerque Academy pursuant to the purchase agreement approved by the City Council on March 15,1982. To the extent that cash proceeds are received by the City as part of such an exchange, the cash proceeds will be deposited into the Robert M. White Open Space Trust Fund. When the land is ultimately sold, leased, or exchanged for Major Public Open Space, the operative portions of §§ 4-2-3-1 et seq. and the Academy Agreement regarding disposition of proceeds will take effect.
(C) Money from sources such as grants, donations, and appropriations may be placed in the Robert M. White Open Space Trust Fund created by §§ 4-2-3-1 6 et seq.
(D) If Open Space Exchange Lands are exchanged for land designated as Major Public Open Space by the Albuquerque/Bernalillo County Comprehensive Plan or other adopted City plans, no proceeds will be required to be deposited into the Robert M. White Open Space Trust Fund. Any payment to the Academy necessitated by such an exchange may be paid from the Open Space Trust Fund or from other available funds.
('74 Code, § 4-11-3) (Ord. 72- 1988; Am. Ord. 2015-028; Am. Ord. 2023-034)
The principal of the Robert M. White Open Space Trust Fund shall be maintained intact and interest earned thereon and other income will be utilized for the following purposes:
Up to 90% of the annual earnings generated by investments may be used for the acquisition of land designated for Major Public Open Space or for public easement or rights by the Albuquerque/Bernalillo County Comprehensive Plan or other adopted City plans, and/or may be reinvested as part of the principal of the Robert M. White Open Space Trust Fund, subject to the approval of the City Council upon recommendation by the Open Space Advisory Board. The remaining 10% of the earnings shall be added to the principal of the trust fund and reinvested.
('74 Code, § 4-11-4) (Ord. 72- 1988; Am. Ord. 11-2004; Am. Ord. 2015-028; Am. Ord. 2023-034)
Pursuant to the powers granted to the City under Article X, Section 6, of the New Mexico Constitution and the Charter of the City, the Council hereby adopts the following procedure specifically for the disposition of the Open Space Exchange Lands. The method set out herein is intended to be an alternative to the provisions governing disposition provided for in § 5-2-1 et seq., or any other laws or ordinances governing disposition of real property by the City.
(A) Methods of Disposition.
(1) The City may sell, lease, or exchange the Open Space Exchange Lands by any reasonable means, including, but not limited to, the use of competitive bidding, request for proposals or negotiation. The Mayor shall not make or consider offers to dispose of land under this section until he has advertised his offer to dispose or his willingness to consider offers in a public notice in a daily newspaper of general circulation in the City, or if the land is not located within Albuquerque, then in the County in which the land is located; such notice shall give relevant information as to the City’s offer or the types of offers which would be acceptable to the City. Open Space Exchange Lands may be exchanged by private exchange:
(a) For lands designated as Major Public Open Space by the Albuquerque/Bernalillo County Comprehensive Plan or other adopted City plans; or
(b) For land that the City wishes to acquire for subsequent sale or exchange for lands designated as Major Public Open Space by the Albuquerque/Bernalillo County Comprehensive Plan or other adopted City plans.
(2) Land acquired by exchange for subsequent sale shall be deemed to be Open Space Exchange Land subject to §§ 4-2-3-1 et seq. and the Agreement with the Albuquerque Academy. The Mayor shall obtain appraisals of each parcel of land to be acquired, traded or sold before making or considering offers for disposal. Appropriate fees will be paid to any outside professional service utilized to affect the disposition of land under this section; such service includes, but is not limited to, title insurance, engineering, surveying, legal, brokerage, and appraisal.
(B) Report by the Mayor and Approval by the Council or Its Designee.
(1) The Mayor shall report any final decision to dispose of any of the Open Space Exchange Lands to the City Council for its approval, and no sale, lease, exchange or other disposition of any of the Open Space Exchange Lands shall occur without the notification of and an opportunity to comment by the Open Space Advisory Board prior to final approval of the City Council.
(2) All proposals which are submitted to the Council in accordance with the requirements of this section shall be supported by a message setting out the circumstances, benefits, responsibilities and advantages relative thereto.
(3) All offers and related documentation received by the City as part of the disposal of each parcel of the Exchange Lands shall be transmitted to the Council along with the proposal.
(4) The Council’s approval power is delegated to the Open Space Advisory Board in the following cases: any license, easement, grant of right-of-way or leasehold interest of less than ten years in duration, including any lease extensions or renewals, granted to any entity authorized to exercise the power of eminent domain in the State, provided the value of the land so encumbered does not exceed $100,000. An aggrieved person shall have the right to appeal such decision to the City Council within 15 days of the decision.
('74 Code, § 4-11-5) (Ord. 72- 1988; Am. Ord. 39-1990; Am. Ord. 2015-028; Am. Ord. 2023-034)
Section 4-2-3-4 shall expire upon acceptance by the City Council of a final report from the Mayor to be submitted after the disposition of all Open Space Exchange Lands has been completed.
('74 Code, § 4-11-6) (Ord. 72- 1988; Am. Ord. 2015-028; Am. Ord. 2023-034)
(A) The Mayor with the advice of the City of Albuquerque Investment Committee (“Investment Committee”) is authorized and directed to convey any funds appropriated to the Robert M. White Open Space Trust Fund to the City Treasurer or a trustee, with instructions to administer such fund as the Robert M. White Open Space Trust Fund for the uses and purposes set forth in this Article. The trust fund shall be permanent and irrevocable. Funds appropriated to the Robert M. White Open Space Trust Fund shall be invested in securities permitted by § 4-1-10 and subject to the City’s investment policy in effect at the time of adoption of this section or as may be amended from time to time, and according to the recommendations and oversight of the Investment Committee.
(B) If a trustee is selected, it shall be a qualified, responsible financial institution which shall be selected by the Mayor, subject to Council approval, for a term of up to five years after publication of a request for sealed bid proposals.
(C) The administration of the trust fund shall be evaluated at least annually by the Investment Committee to determine whether the administration of the trust fund shall be undertaken by the City Treasurer, or a new trustee, who shall be selected as provided in division (B).
(D) The fiscal year for the trust fund shall end on June 30 of each year. Within 30 days after the end of each fiscal year, the City Treasurer shall present a report of all investment activity of the past year in connection with the administration of the trust fund to the Open Space Advisory Board for its review and comment. The Treasurer shall then furnish the report and any comments from the Open Space Advisory Board to the Mayor and the City Council.
(E) In investing the principal of the trust fund, the trustee shall be subject to the restrictions imposed on investment of City funds under § 4-1-9.
(F) The City Attorney shall prepare detailed instructions to the trustee consistent with the terms of this Article.
(Ord. 2015-028; Am. Ord. 2023-034)
Section
4-3-1-1 Imposition of tax
4-3-1-2 Specific exemptions
4-3-1-3 Dedication
4-3-2-1 Imposition of tax
4-3-2-2 Specific exemptions
4-3-2-3 Dedication
4-3-3-1 Imposition of tax
4-3-3-2 General provisions
4-3-3-3 Specific exemptions
4-3-3-4 Dedication
4-3-3-5 Effective date
4-3-3-6 Repeal to tax
4-3-3-7 Creation and administration of trust fund
4-3-4-1 Imposition of tax
4-3-4-2 General provisions
4-3-4-3 Specific exemptions
4-3-4-4 Dedication
4-3-4-5 Effective date
4-3-5-1 Imposition of tax
4-3-5-2 General provisions
4-3-5-3 Specific exemptions
4-3-5-4 Dedication
4-3-6-1 Name
4-3-6-2 Imposition of tax
4-3-6-3 General provisions
4-3-6-4 Specific exemptions
4-3-6-5 Dedication
4-3-6-6 Mandatory election
4-3-6-7 Effective date of §§ 4-3-6-1 et seq.
4-3-6-8 Effective date of tax
4-3-6-9 Expiration of tax
4-3-7-1 Name
4-3-7-2 Imposition of tax
4-3-7-3 General provisions
4-3-7-4 Specific exemptions
4-3-7-5 Dedication
4-3-7-6 Effective date of tax
4-3-8-1 Name
4-3-8-2 Imposition of tax
4-3-8-3 General provisions
4-3-8-4 Specific exemptions
4-3-8-5 Dedication
4-3-8-6 Mandatory election
4-3-8-7 Effective date of tax
4-3-9-1 Imposition of tax
4-3-9-2 General provisions
4-3-9-3 Specific exemptions
4-3-9-4 Dedication
4-3-9-5 Effective date
Editor's note: Each increment of Municipal Gross Receipts Tax is a separate tax, adopted by separate ordinance under differing versions of the enabling legislation that authorizes the imposition of the taxes. Thus subsequent increments do not amend the original tax ordinance and do not have any specific relation to other increments. Each tax increment ordinance is codified in the following parts of this article.
Loading...