Prince George's County Council - Reference No. CR-028-2019

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Details

Reference No.

CR-028-2019 Draft No. 1

Type:

Resolution

Status:

Adopted

Meeting Body

County Council

Meeting Date

6/11/2019

Introduced Date

5/7/2019

Public Hearing Date

6/11/2019 @ 2:00 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 (County) equipment and vehicles.

Proposers/Sponsors:

County Executive, Todd M. Turner, Derrick Leon Davis, Calvin S. Hawkins

Attachments:

1. R2019028, 2. CR-028-2019 Attachments A & B, 3. CR-28-2019 AIS, 4. CR-028-2019 Transmittal, 5. CR-28-2019 Report, 6. CR-028-2019 Fiscal Impact

Contact:

Ronald Halper, Debt Manager, Office of Finance

Date	Ver.	Action By	Action	Result	Action Details	Meeting Details	Video
6/11/2019	1	County Council	public hearing held		Action details	Meeting details	Video
6/11/2019	1	Government Operations and Fiscal Policy Committee	Favorably recommended	Pass	Action details	Meeting details	Video
6/11/2019	1	County Council	adopted	Pass	Action details	Meeting details	Video
5/7/2019	1	County Council	introduced and referred		Action details	Meeting details	Video

Title

A RESOLUTION CONCERNING CONTRACT APPROVALS for the purpose of approving a multi-year Financing Agreement to fund essential Prince George’s County (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) must be approved by resolution of the County Council upon notice and public hearing. This resolution will approve a multi-year Financing Agreement to fund the County’s 2019 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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