Gallup Council approves $9.72M NMFA loan-grant for Reach 27.12 waterline

Gallup City Council cleared the way for a $9,721,602 New Mexico Finance Authority Water Project Fund loan/grant when it adopted Resolution No. R2026-11 at its regular meeting on Feb. 24, 2026. The resolution authorizes the execution and delivery of the NMFA loan/grant specifically for the City’s Reach 27.12 waterline.

The council's action formalizes the city's authorization to enter into the NMFA Water Project Fund arrangement in the total amount of $9,721,602. Resolution R2026-11 names the loan/grant package and directs city officials to execute and deliver the necessary documents with the New Mexico Finance Authority to secure those funds for the Reach 27.12 waterline.

Council members considered the resolution as an item on the Feb. 24 agenda during the regular session. Adoption of R2026-11 was the municipal approval step required to bind the City of Gallup to the NMFA funding instrument identified as a loan/grant; the resolution authorizes city staff to complete contractual and financial steps tied to the $9,721,602 package.

Reach 27.12 is identified in the resolution as the project to receive the NMFA Water Project Fund support. The City of Gallup will use the combined loan and grant funding mechanism under the NMFA program to finance the Reach 27.12 waterline, consolidating the $9,721,602 commitment under the authority of Resolution R2026-11.

With adoption of Resolution R2026-11 on Feb. 24, 2026, city officials are now empowered to sign and deliver the NMFA documents that will formalize disbursement and terms for the $9,721,602 loan/grant for Reach 27.12. The council vote completes the local approval required to proceed with the financial close and further actions tied to the waterline project under the New Mexico Finance Authority Water Project Fund.