Reference No. CR-060-2006    Draft No. 1
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 7/18/2006
Introduced Date 7/11/2006 Public Hearing Date
Effective date: 7/31/2006    
Title: A Resolution concerning the repeal of all the provisions of CR-78-1991, effective upon the date of adoption of this resolution by the County Council and signature by the Chair of the County Council and the County Executive of this resolution, and requiring that this resolution shall be construed to apply only prospectively and may not be applied or interpreted to have any effect on or application to any County debt issued prior to the effective date of this resolution
Proposers/Sponsors: Thomas E. Dernoga, County Executive
Code sections: None - None
Attachments: 1. R2006060, 2. ACTION SUMMARY T2006060
Contact: Kathleen H. Canning Office of Law
Title A Resolution concerning the repeal of all the provisions of CR-78-1991, effective upon the date of adoption of this resolution by the County Council and signature by the Chair of the County Council and the County Executive of this resolution, and requiring that this resolution shall be construed to apply only prospectively and may not be applied or interpreted to have any effect on or application to any County debt issued prior to the effective date of this resolution Background This resolution will repeal CR-78-1991 relating to the declaration of the official intent of the County to comply with the Internal Revenue Code and Income Tax Regulations to expend moneys on certain projects prior to the issuance of taxable or tax-exempt debt and reimburse such expenditures with proceeds of taxable or tax-exempt debt. The declaration of the official intent of the County to make such a reimbursement of expenditures may be included in the County bond authorizing legislation. This resolution shall be construed to apply only prospectively and may not be applied or interpreted to have any effect on or application to any County debt issued prior to the effective date of this resolution.



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