Reference No. CB-043-2024    Draft No.
Type: Council Bill Status: Enacted
Meeting Body Sitting as the Committee of the Whole
Meeting Date 7/16/2024
Introduced Date 6/18/2024 Public Hearing Date 07/16/2024 @ 10:00 AM
Effective date:    
Title: AN ACT CONCERNING BORROWING TO FINANCE CAPITAL PROJECTS FOR PUBLIC SAFETY FACILITIES for the purpose of authorizing Prince George's County, Maryland, to borrow money upon its full faith and credit at any time and from time to time, in an aggregate principal amount not exceeding $40,205,000 to finance the design, construction, reconstruction, extension, acquisition, improvement, enlargement, alteration, renovation, relocation, rehabilitation, or repair of Public Safety Facilities (including Fire Department Facilities), including the acquisition and development of sites therefor, the architectural and engineering services incident thereto, and the acquisition and installation of necessary fixed permanent equipment therefor, prescribing terms and conditions upon which bonds issued pursuant to this Act shall be issued and sold and other incidental details with respect thereto; providing generally for the issuance of such bonds and providing for such borrowing to be submitted to a referendu...
Proposers/Sponsors: County Executive, Jolene Ivey, Wala Blegay, Ingrid S. Watson, Eric C. Olson, Wanika Fisher, Krystal Oriadha, Thomas E. Dernoga, Calvin S. Hawkins
Attachments: 1. CB-043-2024 - signed, 2. CB-043-2024 Summary, 3. CB-043-2024 Report, 4. CB-043-2024 PAFI, 5. CB-043-2024 Transmittal, 6. REMOVE, 7. REMOVE
Contact: Brian Halloran, Office of Management and Budget

Title

AN ACT CONCERNING BORROWING TO FINANCE CAPITAL PROJECTS FOR PUBLIC SAFETY FACILITIES for the purpose of authorizing Prince George's County, Maryland, to borrow money upon its full faith and credit at any time and from time to time, in an aggregate principal amount not exceeding $40,205,000 to finance the design, construction, reconstruction, extension, acquisition, improvement, enlargement, alteration, renovation, relocation, rehabilitation, or repair of Public Safety Facilities (including Fire Department Facilities), including the acquisition and development of sites therefor, the architectural and engineering services incident thereto, and the acquisition and installation of necessary fixed permanent equipment therefor, prescribing terms and conditions upon which bonds issued pursuant to this Act shall be issued and sold and other incidental details with respect thereto; providing generally for the issuance of such bonds and providing for such borrowing to be submitted to a referendum of the legal voters of the County.

 

Background

This bill will provide the County with the authority to borrow an amount not to exceed $40,205,000 to finance the design, construction, reconstruction, extension, acquisition, improvement, enlargement, alteration, renovation, relocation, rehabilitation, or repair of public safety facilities as approved in the FYs 2025 - 2030 Capital Improvement Program (CIP).

 

The amount enabled will provide sufficient funding for each project as required by Section 823 of the County Charter. In accordance with the County Charter, upon the enactment by the Council, this bill will be placed on the ballot on November 5, 2024, for approval by the legal voters of the County.

 

NOTE: SUBJECT TO REFERENDUM

 

 



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