NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that on November 1, 2022, at 9:00 a.m., the New Mexico Mortgage Finance Authority (the “Authority”) will cause a public hearing to be conducted by a member of its staff or a designated agent by teleconference, for and on behalf of itself and the State of New Mexico (the “State”) regarding a proposal by the Authority that pursuant to the provisions of Sections 58-18-1 through 58-18-27, inclusive, NMSA 1978, as amended (collectively, the “Act”), a plan of finance (the “Plan of Finance”) and an indenture or indentures of trust (collectively, the “Indentures”), the Authority issue various series of its federally tax-exempt single family mortgage bonds under Section 143 of the Internal Revenue Code in an aggregate principal amount of not to exceed $500,000,000 (the “Bonds”). All members of the public may attend by teleconference by dialing 1-844-992-4726 and using Event Number: 2492 678 7291 and Event Password: AQe6rxMVp73. The public may also attend the hearing by video, by going to the following website: https://housing-nm.webex.com/housing-nm/onstage/g.php?MTID=e7c9526a148911f35b85fc1ffa2fdbaaa. No in-person meeting will be held.
Pursuant to the Plan of Finance, proceeds of the Bonds would be used to provide financing for the purchase of housing by persons of low and moderate income within the State under the Authority's single family mortgage bond program (the “Program”), to fund down payment assistance and closing costs in connection with the Program and/or to refund certain outstanding single family mortgage bonds of the Authority. Eligible mortgage loans shall be secured by mortgages constituting liens on single family, owner-occupied housing located in the State. Such mortgage loans will be available to low and moderate income individuals throughout the State having family incomes equal to or below the limits established by the Authority for the Program. Mortgage lenders which have been determined by the Authority to be eligible to participate in the Program will be invited to originate qualified mortgage loans for purchase as part of the Program.
The Authority is authorized to issue the Bonds pursuant to the Act. If issued, the Bonds shall be special limited obligations of the Authority payable solely from amounts derived from or in connection with the Program and from moneys and securities held from time to time under the Indentures under which the Bonds are issued. Any Bonds and the interest thereon shall not constitute a debt or liability of the State or any political subdivision thereof, and neither the State nor any political subdivision thereof will be liable thereon, and in no event will the Bonds or the interest thereon be payable out of any funds or properties other than those of the Authority expressly provided therefor under the Indentures.
At the above-stated time, the Authority will receive oral comments and hear all views regarding the proposed issuance of the Bonds and use of the proceeds thereof. Individuals and representatives of organizations who desire to present oral testimony during the public hearing are requested to state their names, addresses and telephone numbers as well as the organization they represent prior to speaking. A three-minute limitation on comments may be imposed. The public is also invited to submit written comments to the Authority at its offices located at 344 Fourth Street, S.W., Albuquerque, New Mexico 87102 until 5:00 p.m. on October 31, 2022. Additional information can be obtained from the Authority at its offices or by calling (505) 843-6880. Subsequent to the public hearing, the Governor of the State will consider approving the issuance of the Bonds.
Date: October 25, 2022
NEW MEXICO MORTGAGE FINANCE AUTHORITY
By: Isidoro Hernandez, Executive Director/ Chief Executive Officer and Secretary