Title:
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A Resolution concerning the Washington Suburban Sanitary Commission Capital and Operating Budgets for Fiscal Year 2011for the purpose of approving a budget supplement to the Washington Suburban Sanitary Commission (WSSC) Capital and Operating Budgets for Fiscal Year 2011 and the WSSC Capital Improvements Program Fiscal Year 2011 to 2016.
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Title
A Resolution concerning the Washington Suburban Sanitary Commission Capital and Operating Budgets for Fiscal Year 2011for the purpose of approving a budget supplement to the Washington Suburban Sanitary Commission (WSSC) Capital and Operating Budgets for Fiscal Year 2011 and the WSSC Capital Improvements Program Fiscal Year 2011 to 2016.
Background
Section 17-202 of the Public Utilities Article, Laws of the Annotated Code of Maryland, requires WSSC to submit Capital and Operating Budgets and any supplements thereto to the County Executives and County Councils of Prince George’s and Montgomery Counties for approval. On April 27, 2010, WSSC submitted a FY 2011 budget supplement totaling $26,871,050 to the Prince George’s and Montgomery County Executives and County Councils, to fund the redemption of WSSC’s 2001 General Construction Refunding Bonds, which will result in the avoidance of future interest payments totaling $4,072,750.