Title
AN ACT CONCERNING STORMWATER MANAGEMENT - WATERSHED PROTECTION AND RESTORATION PROGRAM REVENUE OBLIGATIONS - MARYLAND WATER INFRASTRUCTURE FINANCING ADMINISTRATION LOANS for the purpose of authorizing and empowering Prince George’s County, Maryland (the “County”) to borrow money and incur indebtedness in an aggregate principal amount not exceeding Thirty-Eight Million Five Hundred Thousand Dollars ($38,500,000) (the “Loan”) under one or more loan agreements (each, a “Loan Agreement”) to be executed and delivered by the County and the Maryland Water Infrastructure Financing Administration (“MWIFA”) to be evidenced and secured by one or more revenue notes or other obligations (each, a “Note”) in an aggregate principal amount equal to the amount of the Loan under the Loan Agreements and to borrow money and incur indebtedness in order to refund or refinance the Loan and the Notes and any other indebtedness authorized hereby in a maximum principal amount not to exceed one hundred fifty percent (150%) of the aggregate principal amount of the indebtedness refunded or refinanced (collectively, the “Obligations”), pursuant to the Maryland Water Infrastructure Financing Administration Act, Sections 9-1601 to 9-1622, inclusive, of the Environment Article of the Annotated Code of Maryland, as amended, replaced or recodified from time to time (the “Water Infrastructure Act”) and Section 10-203(b) of the Local Government Article of the Annotated Code of Maryland, as amended, replaced or recodified from time to time (collectively, the “Enabling Acts”), for the purpose of financing and refinancing in whole or in part costs of the design, planning, construction, equipping, installation, reconstruction, establishment, expansion, extension, enlargement, demolition, improvement and acquisition of certain capital improvement projects of the County’s Stormwater Management - Watershed Protection and Restoration Program set forth in the capital program and the capital budget of the...
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