City Council

Minutes of the Regular Meeting of the Gallup City Council, City of Gallup, New Mexico, held in the Council Chambers at Gallup City Hall, 110 West Aztec Avenue, at 6:00 p.m. on Tuesday, April 23, 2019. The meeting was called to order by Mayor Jackie McKinney. Upon roll call, the following were present: Mayor: Jackie McKinney Councilors: Linda Garcia Allan Landavazo Yogash Kumar Fran Palochak Also present: Maryann Ustick, City Manager Curtis Hayes, City Attorney Presented to the Mayor and Councilors for their approval were the Minutes of the Special and Regular Meetings of April 9, 2019. Councilor Palochak made the motion to approve the aforementioned minutes. Seconded by Councilor Landavazo. Roll call: Councilors Palochak, Landavazo, Garcia and Mayor McKinney all voted yes. Councilor Kumar abstained. Motion carried. The Mayor and Councilors recognized State Rep. Patty Lundstrom in the audience. The Mayor and Councilors recognized Alfred Abeita II, City Clerk, for being selected as the 2019 Clerk of the Year by the New Mexico Municipal Clerks and Finance Officers Association. The Mayor and Councilors presented a Proclamation declaring the month of April 2019 as Child Abuse Prevention Month in the City of Gallup. Charles Reado, New Mexico Children Youth and Families Department (NMCYFD), accepted the Proclamation and provided information concerning the Family Fun Fest event to be held on Saturday, April 27, 2019 at the Courthouse Plaza. The event is sponsored by NMCYFD in partnership with the Gallup McKinley County Schools. The Mayor and Councilors presented a Proclamation designating Sunday, May 5, 2019 as a Day of Awareness for Missing and Murdered Native American Women and Girls. Local advocate Kimberly Wahpepah accepted the Proclamation and thanked the Mayor and Councilors for bringing awareness to human trafficking and other terrible crimes being committed against Native American women and children. Presented to the Mayor and Councilors for their approval were the following Discussion/Action Topics: MINUTES Regular City Council Meeting — 4/23/2019 Page 2 1. Resolution No. R2019-14; National Economic Development Week Patty — Lundstrom, Executive Director, Greater Gallup Economic Development Corporation (GGEDC) Ms. Lundstrom presented the proposed Resolution designating May 6-11, 2019 as National Economic Development Week in the City of Gallup. She provided an overview of the events and activities the GGEDC will be involved in to commemorate and promote its economic development efforts. Councilor Palochak made the motion to approve Resolution No. R2019-14; National Economic Development Week. Seconded by Councilor Garcia. Roll call: Councilors Palochak, Garcia, Kumar, Landavazo and Mayor McKinney all voted yes. 2. Ordinance No. S2019-1; Rico Land & Cattle Co. Annexation — Clyde (C.B.) Strain, Planning and Development Director Mr. Strain presented the request by Rico Land & Cattle Co., property owners, for annexation of certain real property described as Parcel 1, Menapace Section 26 Subdivision into the City of Gallup corporate boundaries by way of annexation plat titled Menapace Annexation, Parcel 1, Menapace Section 26 Subdivision, situated in Section 26, T15N, R19W, NMPM Mckinley County, New Mexico, containing 125.9497 acres. Said property is located immediately adjacent to and west of Rico Street. Rico Land & Cattle Co. recently underwent a subdivision for a tract of land lying within Mckinley County located contiguous to the City of Gallup municipal boundary containing 284.2727 acres. The tract of land was subdivided into two tracts of land; the northern tract containing 116.4769 acres and the southern tract containing 167.7958 acres. The property owners now wish to annex the northern tract of land identified as Parcel 1, Menapace Section 26 Subdivision, containing 116.4769 acres onto the City of Gallup corporate boundaries. Also included in the annexation are two transfer tracts of land owned by Viren S. and Sangita V. Patel Revocable Trust containing a total of 1.4223 acres and an un-annexed portion of a 300 ft. X 300 ft. tract of land owned by CHEV33O7W, LLC containing 0.6891 acres along with the Twin Buttes Road right-of-way containing 1.8264 acres, lying immediately adjacent to and to the west of Parcel I and a City of Gallup right-of-way containing 5.5350 acres, lying immediately adjacent to and to the south of Parcel 1. The proposed annexation lies within the Annexation Priority 1 Area as identified in the Gallup Annexation Priorities within the City of Gallup Growth Management Master Plan. The request for annexation meets the General Criteria for Consideration of Annexation Requests per Section 13-1-C or the City of Gallup Annexation Procedures and as such is favorable for annexation. The City is annexing the subject property under the petition method as identified in Article 7, Section 3-7-17, NMSA 1978. Section 3-7-1 7A(2) states that as long as the petition (application) is signed by the owners of a majority of the MINUTES Regular City Council Meeting —4/23/201 9 Page 3 number of acres in the contiguous territory the remaining acreage may be included in the annexation. In this case, Parcel I of the Menapace Section 26 Subdivision holds the majority of the number of acres contained in the annexation; therefore, the two transfer tracts containing 1.4223 acres and the un-annexed portion of a 300 ft. X 300 ft. tract of land containing 0.6891 acres may be included without a petition signed by the owners of said tracts of land. Said described tracts of land within the Menapace Annexation, Parcel 1, Menapace Section 26 Subdivision, situated in Section 26, T15N, R19W, NMPM McKinley County, New Mexico are being placed in the Heavy Commercial (HC) Zoning District which is consistent with the zoning of surrounding properties. The Gallup Task Force reviewed this request and as a result of their review sends a positive recommendation for approval with no additional requirements at this time. A copy of the Gallup Task Force comments are included in your agenda packet for review. In staff’s consideration of the annexation it is apparent that the request is in conformance with the City’s Annexation Procedures and Article 7 “Annexation of Territory” of the New Mexico Statutes 1978 Annotated, thus providing an orderly, economical and environmentally sound pattern of growth. Therefore, staff supports approval for said annexation subject to Task Force comments. The Gallup Planning and Zoning Commission reviewed this request during their regular meeting on April 10, 2019 and sends a positive recommendation for approval with resolution of recommendation No. RP2019-04. Mr. Strain answered questions pertaining to the proposed zoning of the land to be annexed which is comparable to the surrounding properties. Councilor Landavazo made the motion to approve Ordinance No. S2019-1; Rico Land & Cattle Co. Annexation. Seconded by Councilor Kumar. Roll call: Councilors Landavazo, Kumar, Garcia, Palochak and Mayor McKinney all voted yes. 3. Resolution No. R2019-15; Authorizing and Approving Submission of a Completed Application for Financial Assistance and Project Approval to the New Mexico Finance Authority Eric Babcock, Interim Electric Director — Mr. Babcock provided an overview of the LED Street Light Project to be funded through financing options with the New Mexico Finance Authority (NMFA). The project includes the replacement of over 4,000 old streetlights with LED lighting with a guaranteed energy savings of 60%. The new LED lights will have a 23 year life expectancy, reduce maintenance by more than 90% and will be paid for within 9 years. The new LED lights are dark sky friendly and will increase public safety with better light quality. Erik Harrigan, RBC Capital Markets, presented the proposed Resolution authorizing and approving the submission of a completed application to the NMFA for financial assistance for the LED Street Light Project. He provided a summary of the proposed financial plan, comparison savings to the projected debt service and a time schedule for financing the MINUTES Regular City Council Meeting — 4/23/2019 Page 4 project, which is attached hereto, marked as Exhibit A and made a part of these official minutes. Mr. Babcock answered questions pertaining to the installation of the LED lighting, the warranty of the LED lights and the cost of the new LED lights. Mr. Harrigan answered questions concerning the net projected cash flow in the comparison of savings to projected debt service, the trends in interest rates and the energy savings identified in the Investment Grade Energy Audit and Report developed by ENGIE Services. Discussion followed concerning the proposed bond issue for upgrades to electrical substations and other capital improvements in the Electric Department’s ten year plan. Councilor Palochak made the motion to approve Resolution No. R2019-15; Authorizing and Approving Submission of a Completed Application for Financial Assistance and Project Approval to the New Mexico Finance Authority. Seconded by Councilor Garcia. Roll call: Councilors Palochak, Garcia, Kumar, Landavazo and Mayor McKinney all voted yes. 4. Request Contract Approval to Advance Control System (ACS) in the Amount of $90,000, Plus $4,071.67 in Material Contingencies for Repair and Upgrades to Existing Supervisory Control and Data Acquisition (SCADA) System Eric — Babcock, Interim Electric Director Mr. Babcock presented the request to contract with ACS for the repair and upgrades needed for the City’s existing SCADA system. The proprietary system was built by ACS thirteen years ago and needs to function properly. Staff from the Electric Department and Information Technology Department will be trained on the system once the repairs and upgrades have been completed. Mr. Babcock answered questions regarding the upgrades to be done to the SCADA system pending the future replacement of existing substations in the grid and the funds budgeted for the design of the Allison substation. Councilor Kumar made the motion to approve the contract with Advance Control System in the amount of $90,000, plus $4,071.67 in material contingencies for repair and upgrades to the existing Supervisory Control and Data Acquisition System. Seconded by Councilor Landavazo. Roll call: Councilors Kumar, Landavazo, Palochak, Garcia and Mayor McKinney all voted yes. 5. Ordinance No. S2019-2; Ordinance to Exchange Land with Gallup Land Partners Curtis Hayes, City Attorney — Mr. Hayes presented the proposed Ordinance to exchange approximately 160 acres of City-owned land in exchange for approximately 31.18 acres of property owned by Gallup Land Partners (GLP) on Warehouse Lane and approximately 0.4591 acres of property MINUTES Regular City Council Meeting — 4/23/2019 Page 5 owned by GLP on Calle Pinon Street. The City-owned land, which was originally donated to the City, is located south of Mendoza Road and is surrounded by tribal land and GLP owned land and does not abut Mendoza Road. There is no existing easement or right- of-way across either the tribal land or the GLP land to provide legal access to the property. Due to the location, the land is not of value to the City, but would be of value to GLP as it owns adjoining land. The City has been using the land at the east-end of Warehouse Lane, primarily as a storage lot for decades. There is no known written agreement with the land owner, previous to GLP, to authorize the City to use of the land. Due to the large amount of materials the City has stored on the land, the cost to remove them would be considerable. As a result, the City would like to acquire the land and obtain a release from GLP for any potential claims against the City for the City’s use of the land. The City would also like to acquire the parcel at the end of Calle Pinon Street to utilize for flood control measures. If approved, the Ordinance would go into effect 45 days after its adoption as provided by state law. Discussion followed regarding the appraisal requirements for the City to dispose of its land, the risks a private buyer would have for purchasing the Mendoza Road property from the City due to the lack of access to the land and the advantages the City would have for acquiring both parcels of land. Councilor Palochak made the motion to approve Ordinance No. S2019-2; An Ordinance to Exchange Land with Gallup Land Partners. Seconded by Councilor Garcia. Roll call: Councilors Palochak, Garcia, Kumar, Landavazo and Mayor McKinney all voted yes. 6. Acceptance of Utility Easement From St. Francis Diocese — Curtis Hayes, City Attorney Mr. Hayes presented the proposed utility easement from the St. Francis Diocese in order for the City to maintain an underground high voltage line to the transformer located at the new building on Wilson Avenue between 2 and 3td Streets. The line and transformer are already in place. Councilor Garcia made the motion to accept the utility easement from the St. Francis Diocese. Seconded by Councilor Palochak. Roll call: Councilors Garcia, Palochak, Landavazo, Kumar and Mayor McKinney all voted yes. 7. Request to Award Navajo Gallup Water Supply Project (NGWSP), Reach 27.9, Formal Bid No. 1903, to Adame Construction, Inc. Dennis Romero, Director, — Gallup WaterANastewater Dept. Mr. Romero provided an overview of the work to be done under the project, which MINUTES Regular City Council Meeting — 4/23/2019 Page 6 primarily consists of the installation of a 24-inch waterline beginning at the intersection of Morello Avenue and Kachina Street, running north along Kachina Street to Coal Basin Road, continuing north along a projection of the west boundary of the Gamerco Townsite and ending south of the Gamerco Reservoirs. The lowest qualified bidder for the project is Adame Construction, Inc. of Los Lunas, New Mexico, in the amount of $5,840,388.72. The engineer’s cost estimate for the project, which was prepared two years ago, is $6.3 million. Funding for the project will be provided by the Water Trust Board through the NMFA and the U.S. Bureau of Reclamation. Mr. Romero answered questions regarding the number of remaining reaches to be constructed in the Gallup Regional System and the status of securing a cost cap for Gallup’s share of the NGWSP from the federal government. Councilor Landavazo expressed his concerns about the City’s need to secure a cost cap from the federal government stating that the Council does not want to strap its residents with out of control expenses for water delivery. Mayor McKinney said the former City Attorney worked on a simple language change to the Repayment Contract with the Bureau of Reclamation; however, the amendment requires approval by the United States Congress. He said the City needs assistance with getting the proposed legislation through Congress. Following discussion, Councilor Kumar made the motion to approve the request to award Navajo Gallup Water Supply Project Reach 27.9, Formal Bid No. 1903, to Adame Construction, Inc. Seconded by Councilor Landavazo. Roll call: Councilors Kumar, Landavazo, Palochak, Garcia and Mayor McKinney all voted yes. 8. Request for Budget Adjustments for Annual Operations Contract with Jacobs (CH2M) and Evoqua Dennis Romero, Director, Gallup WaterNVastewater — Dept. Mr. Romero said there is a contractual increase in fees for Jacobs to operate the Wastewater Treatment Plant and an increase in odor control fees under the contract with Evoqua for the remainder of the fiscal year. He recommended a total budget adjustment of $100,000 from Fund 508; $50,000 for the increased contract costs with Jacobs and $50,000 for the odor control fees with Evoqua. Although the odor control costs are estimated to be about $18,500, Mr. Romero recommended the $50,000 budget adjustment to cover any unforeseen costs. Unused funds will automatically revert to the enterprise fund. Discussion followed concerning the possibility for a reduced need of odor control MINUTES Regular City Council Meeting —4/23/2019 Page 7 solutions to be injected into the wastewater system due to the proposed capital improvements at the Wastewater Treatment Plant. Following discussion, Councilor Palochak made the motion to approve the request for budget adjustments for the annual operations contract with Jacobs (CH2M) and Evoqua in the amount of $100,000 from Fund 508. Seconded by Councilor Landavazo. Roll call: Councilors Palochak, Landavazo, Kumar, Garcia and Mayor McKinney all voted yes. 9. Resolution No. R2019-16; A Resolution Requesting Water Service Outside of the City Limits Dennis Romero, Director, Water and Wastewater Dept. — Mr. Romero presented the proposed resolution for a potential industrial water user requesting water service for the purpose of operating a nitrile glove manufacturing facility. Rhino Health, LLC is planning to operate the facility within the Navajo Nation Industrial Park located east of the Navajo Tech Center at Church Rock. The project includes three phases for the proposed factory; however, the City’s water and wastewater system is capable of supporting Phase I, which will require up to 140,000 gallons of water per day. At this time, the City does not have an industrial user rate class for its water, wastewater or electric utilities. Until the City develops an industrial user rate class, the City and the applicant have agreed to negotiate a temporary rate for utility services. The proposed resolution authorizes water use outside of the city limits for Phase 1 of the Rhino Health Glove Factory, places conditions of the water use on the Rhino Health Glove Factory and it directs staff to negotiate rates with the applicant and to develop an industrial user rate classification. Discussion followed regarding possibilities for Rhino Health to obtain water and wastewater services for Phase II and Phase Ill of the project. Mr. Romero said the City can only assist with Phase I of the project; however, based on the cost causation principle for utilities, Rhino Health or the Navajo Nation would need to bear the costs of about $6.7 million for the required upgrades to the City’s system for Phase II and Phase Ill of the project. Further discussion followed regarding the capacities at the City’s Wastewater Treatment Plant and the required permiffing for the facility, the planning for future growth for the City and the estimated annual water usage by the glove factory under Phase I of the project. Following discussion, Councilor Landavazo made the motion to approve Resolution No. R2019-16; A Resolution Requesting Water Service Outside of the City Limits. Seconded by Councilor Palochak. Roll call: Councilors Landavazo, Palochak, Garcia, Kumar and Mayor McKinney all voted yes. MINUTES Regular City Council Meeting — 4/23/2019 Page 8 10. Resolution No. R2019-13; 3rd Quarter Fiscal Year 2019 Report of Actuals, Budget Adjustments and Investment Report Patty Holland, Chief Financial — Officer Ms. Holland presented the proposed resolution which encompasses all budget changes processed January 1, 2019 through March 31, 2019. She provided an overview and answered questions pertaining to the budget revisions made during the quarter and the required reports to be submitted to the Department of Finance and Administration (DFA). Councilor Garcia made the motion to approve Resolution No. R2019-13; 3rd Quarter Fiscal Year 2019 Report of Actuals, Budget Adjustments and Investment Report. Seconded by Councilor Kumar. Roll call: Councilors Garcia, Kumar, Landavazo, Palochak and Mayor McKinney all voted yes. 11. Travel Policy Amendments — Patty Holland, Chief Financial Officer Ms. Holland presented proposed amendments to the City’s travel policy to comply with DFA regulations. The first amendment to the City’s travel policy removes the $30 reimbursement to employees or public officers for partial day per diem rate for more than 5 hours during the normal work day. The amendment replaces language to the City’s policy to match the precise reimbursement rates for partial day per diem as provided by current DFA regulations. The second amendment to the City’s travel policy provides additional language requiring the repayment of funds to the City within 5 working days if an employee or public officer received advanced funds in excess of actual expenses as required by current DFA regulations. The amendment also allows the City Manager to extend the deadline if an employee or public officer is unable to remit the refund within 5 working days due to extraordinary circumstances. The proposed amendments will become effective July 1, 2019 if they are approved. Discussion followed concerning the applicability of DFA regulations to home rule municipalities, the possibility of reducing travel due to potential budget constraints in the future and the possibility of adopting provisions in the City’s policy that are more strict than DFA regulations, which is permitted by the State. Councilor Landavazo made the motion to approve the travel policy amendments. Seconded by Councilor Palochak. Roll call: Councilors Landavazo, Palochak, Garcia, Kumar and Mayor McKinney all voted yes. 12. Request for Budget Increase for Harold Runnels Athletic Complex — Vince Alonzo, Parks and Recreation Director MINUTES Regular City Council Meeting — 4/23/2019 Page 9 Mr. Alonzo presented the request for a budget increase to cover part-time wages in the amount of $7,000 for the remainder of the fiscal year. The proposed increase is to be funded from General Fund reserves. The reason for the request is due to part-time employees being required to work more than 20 hours per week due to the high volume of usage at the facility and for safety reasons for times when there are as many as 125 patrons at the athletic complex with only 1 employee on duty. Discussion followed concerning the high number of patrons utilizing the current facility compared to the low amount of patrons utilizing the old facility a few years ago. Councilor Garcia made the motion to approve the request for a budget increase for Harold Runnels Athletic Complex. Seconded by Councilor Kumar. Roll call: Councilors Garcia, Kumar, Landavazo, Palochak and Mayor McKinney all voted yes. 13. Request by the New Mexico High School & Jr. High School Rodeo Association for Fee Waiver for the Qualifier Rodeo, May 3-5, 2019 Vince Alonzo and — Robert Detweiler Mr. Alonzo introduced Robert Detweiler, President of the New Mexico High School & Jr. High School Rodeo Association. Mr. Detweiler presented the request for a fee waiver for the use of Red Rock Park for the qualifier rodeo and in lieu of the usage fees, the Association agrees to offer the City one-half of the revenue generated from the rental of all RV sites and horse stalls. Councilor Landavazo commented on the economic impact the event brings to the community since a large amount of families and contestants travel to Gallup for the event. Discussion followed concerning a Resolution No. R2006-46 which referenced the waiver of fees for the National Jr. High School Rodeo when the event was held at Red Rock Park a few years ago. Resolution No. R2006-46 was rescinded two years ago when the usage fees for Red Rock Park was updated. Mr. Hayes said the current resolution provides for a 50% reduction in fees to be paid by non-profit organizations. The resolution also requires any additional fee waivers to be approved by the City Council. Mr. Hayes said a total fee waiver would be a violation of the Anti-Donation Clause of the New Mexico Constitution. The Council needs to determine that the return on the 50/50 split of the rental income is sufficient value for the City to receive and that the fee waiver is not an outright gift. Following discussion, Councilor Landavazo made the motion approve the request as presented by the New Mexico High School and Jr. High School Rodeo Association for a MINUTES Regular City Council Meeting —4/23/2019 Page 10 fee waiver for the Qualifier Rodeo, May 3-5, 2019. Seconded by Councilor Palochak. Roll call: Councilors Landavazo, Palochak, Garcia, Kumar and Mayor McKinney all voted yes. Comments by Public on Non-Agenda Items Andy Yearley, Senior Patrolman First Class with the Gallup Police Department, board member and program coordinator for the Junior Public Safety Academy, provided an update on the Academy. On behalf of the Academy, Officer Yearley thanked the Mayor and Councilors for their support of the Academy and presented them with two plaques. Comments by Mayor and City Councilors The Mayor and Councilors congratulated Franklin Boyd for his promotion to the position of Chief of Police. They commended Chief Boyd for all of his work and achievements. The Mayor and Councilors commended Mr. Abeita for his work and being selected as Clerk of the Year. Councilor Garcia announced that she will not have a Neighborhood Meeting this month. Councilor Kumar thanked Officer Yearley and the Junior Public Safety Academy Board for their work and dedication to the youth of the community. Regarding the Proclamation for a Day of Awareness for Missing and Murdered Native American Women and Girls, he also commented on human trafficking and the protocols, programs and training hotel owners and management staff have to follow and go through in their operations. Councilor Landavazo commended City staff for their hard work and preparation of the City budget. Councilor Palochak said May 2, 2019 is the National Day of Prayer with an event at 12:00 p.m. at the Courthouse Square. She encouraged everyone to attend the event as well as a related event at El Morro Theater in the evening. Councilor Palochak also invited everyone to her Neighborhood Meeting on May 9, 2019 at Stagecoach Elementary. She thanked all levels of City staff for their diligent work and their dedication to the community. Mayor McKinney also commended the entire City staff for their work and commitment to the citizens of the community. He said the Run for the Wall event will take place on May 16, 2019. The Memorial Day ceremony and activities will take place at Hillcrest Cemetery followed by a parade to the Courthouse Plaza. The Grand Opening of the State Veterans Cemetery will take place at 1:00 p.m. on Memorial Day. Mayor McKinney commended Red Rock Motorsports, local youth groups, community volunteers and City staff for their work in cleaning the community.  MINUTES Regular City Council Meeting — 4/23/2019 Page 11 Comments by City Manager and City Attorney Ms. Ustick reminded the Mayor and Councilors about the budget work shop that will be held on Thursday, April 25, 2019 at 8:30 a.m. at the El Morro Events Center. She also congratulated Chief Boyd and Mr. Abeita for their achievements. There being no further business, Councilor Palochak made the motion to adjourn the meeting. Seconded by Councilor Garcia. Roll call: Councilors Palochak, Garcia, Kumar, Landavazo and Mayor McKinney all voted yes. ‘>: A TF II, C rk Apuroved 5/14/2019 Overview • ENGIE Services developed a comprehensive Investment Grade Energy Audit and Report of which, in part, evaluated the replacement of street and area lights and identified energy / Q&M savings • The savings benefits the electric utility which the operation and maintenance and energy cost of the street lights falls within the electric utility • The savings identified in the report net of M&V from the replacement program are sufficient to retire debt within 10 years from the date of issuance • Since the electric utility is the beneficiary of the savings the proposed pledge will be the electric utility and the debt service to paid from identified savings of the street light replacement program • The estimated borrowing rate based upon current market conditions is approximately 2.69% 1 RBC Capital Markets  _____ ____ ________ ___________ _________ ________ _ Comparison of Savings to Projected Debt Service City of Gallup - Streetlights Replacement Financing Cash Flow1 Energy O&M Annual Capitalized Net Debt Net Projected Year Savings (2) Annual M&V (2) Savings Debt Service Interest DSRF Service Cashflow 06/01/2020 0 57,114 -57,114 0 0 06/01/2021 1 314,579 10,000 304,579 279,954 279,954 24,625 06/01/2022 2 327,162 10,400 316,762 292,177 292,177 24,585 06/01/2023 3 340,248 10,816 329,432 304,810 304,810 24,622 06/01/2024 4 353,858 2,000 351,858 327,274 327,274 24,584 06/01/2025 5 368,013 2,080 365,933 341,342 341,342 24,591 06/01/2026 6 382,733 2,163 380,570 355,999 355,999 24,571 06/01/2027 7 398,042 2,250 395,792 371,176 371,176 24,616 06/01/2028 8 413,964 2,340 411,624 386,994 386,994 24,630 06/01/2029 9 430,523 2,433 428,090 403,454 403,454 24,636 06/01/2030 10 0 0 0 292,239 -295,930 -3,691 3,691 r —r Totals 3,329,122 - 3,284,640 3,412,533 -57,114 -295,930 3,059,489 225,151 1Current market rates +25bps 2As provided by ENGIE Streetlight Efficiency Upgrade Report v4 Project Amount: $2,524,221 2 RBC Capital Markets Time Schedule - Cityof Gallup Electric Utility Financing Energy Performance Contract, Series 2019 Date Action Responsibility Tuesday, April 23 City Council approves Resolution to submit application to NMFA CITY, RBC, BC Wednesday, April 24 Submit Signed Resolution and application to NMFA RBC, NMFA Thursday, May23 NMFA Board of Directors consideration of application NMFA, RBC Tuesday, May28 Publication of Notice of Intent to Mopt an Ordinance RBC, CITY Tuesday, June04 Final Interest Rates are set with NMFA CITY, RBC, BC Tuesday, June 11 City Council consideration of Bond Ordinance RBC, CITY Wednesday, June 12 Notice of Moption published in paper of local circulation BC Friday, July 12 Thirty day limitation of action period expires Friday, July 19 Bond Closing CITY, RBC, BC, NMFA Working Group Key Code Participant Role CITY City of Gallup City Council FA RBC Capital Markets Financial Pdvisor BC Modrall Law Firm Bond Counsel NMFA New Mexico Finance Authority Purchaser Note 1: Regular City Council meets 2nd and 4th Tuesday of every month 3 RBC Capital Markets