Reference No. CR-062-2004    Draft No. 1
Type: Resolution Status: Failed
Meeting Body County Council
Meeting Date 10/5/2004
Introduced Date 10/5/2004 Public Hearing Date
Effective date:    
Title: A Resolution permitting the proceeds of special obligation bonds issued by the County to be used in conformity with applicable regulations of the U.S. Treasury Department to reimburse expenditures paid hereafter (or within 60 days prior to the date hereof)
Proposers/Sponsors: Thomas R. Hendershot
Code sections: None - None
Attachments: 1. ACTION SUMMARY T2004062, 2. R2004062.pdf
Contact: Jennifer L. Everly Esquire Knight, Manzi, Nussbaum & LaPlaca, P.A.
Title A Resolution permitting the proceeds of special obligation bonds issued by the County to be used in conformity with applicable regulations of the U.S. Treasury Department to reimburse expenditures paid hereafter (or within 60 days prior to the date hereof) Background The proposed resolution declares the intent of the County to use tax increment financing (TIF) to reimburse certain eligible expenditures with funds from special obligation bonds backed by the additional property tax revenue from the Northgate condominium office and residential project in the City of College Park. The bonds proposed to be sold ($14 million) will be used to construct the parking facility required by the condominium project.



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