Reference No. CR-036-2018    Draft No. 1
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 7/2/2018
Introduced Date 6/5/2018 Public Hearing Date 7/2/2018 @ 1:30 p.m.
Effective date:    
Title: A RESOLUTION CONCERNING CONTRACT APPROVALS for the purpose of approving a multi-year Financing Agreement to fund essential Prince George’s County equipment and vehicles.
Proposers/Sponsors: County Executive, Dannielle M. Glaros
Attachments: 1. R2018036, 2. CR-36-2018 Attachment A, 3. CR-36-2018 Attachment B, 4. CR-36-2018 AIS, 5. CR-36-2018 Report, 6. CR-36-2018 Transmittal, 7. CR-36-2018 Fiscal Impact
Contact: Ronald Halper, Office of Finance

Title

A RESOLUTION CONCERNING CONTRACT APPROVALS for the purpose of approving a multi-year Financing Agreement to fund essential Prince George’s County equipment and vehicles.

 

Background

This legislation is required pursuant to Section 819 of the Prince George’s County Charter.  Section 819 requires multi-year contracts exceeding an aggregate of Five Hundred Thousand Dollars ($500,000.00) must be approved by resolution of the County Council upon notice and a public hearing.  This resolution will approve a multi-year Financing Agreement to fund the County’s 2018 capital equipment requirements of Sixteen Million Five Hundred Thousand Dollars ($16,500,000).

 

The fiscal impact on the County for capital equipment and vehicle purchases will be negative. 

Debt service is the sole responsibility of the County.



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