Prince George's County Council - Reference No. CB-059-2009

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Details

Reference No.

CB-059-2009 Draft No. 1

Type:

Council Bill

Status:

Enacted

Meeting Body

County Council

Meeting Date

11/17/2009

Introduced Date

10/20/2009

Public Hearing Date

Effective date:

11/19/2009

Title:

An Emergency Bill concerning the issuance and sale of General Obligation Qualified School Construction Bonds in an amount not to exceed $29,638,000

Proposers/Sponsors:

Samuel H. Dean, County Executive

Code sections:

None - None

Attachments:

1. ACTION SUMMARY S2009059, 2. INCLUSION FILE I-CB-59-2009 Attachment 1, 3. B2009059.pdf

Contact:

Joseph Hamlin Office of Law

Date	Ver.	Action By	Action	Result	Action Details	Meeting Details	Video
11/19/2009		County Executive	signed		Action details	Meeting details	Not available
11/19/2009		County Council	effective		Action details	Meeting details	Not available
11/17/2009	1	County Council	Public hearing	Pass	Action details	Meeting details	Not available
11/17/2009	1	County Council	enacted	Pass	Action details	Meeting details	Not available
11/5/2009	1	Health, Education and Human Services Committee	Favorably recommended		Action details	Meeting details	Not available
10/20/2009	1	County Council	referred	Pass	Action details	Meeting details	Not available
10/20/2009		County Council	introduced		Action details	Meeting details	Not available

Title An Emergency Bill concerning the issuance and sale of General Obligation Qualified School Construction Bonds in an amount not to exceed $29,638,000 Background This emergency bill provides the authority to issue and sell General Obligation Qualified School Construction Bonds to finance Public School Facilities in an amount not to exceed $29,638,000 for capital projects and includes the amounts programmed in the FY 2010 Capital Budget. The bill also authorizes the County Executive to enter into agreements with the Prince George’s County Board of Education and public instrumentalities of the County or the State of Maryland to finance said capital projects, including agreements regarding sale and leaseback (or other similar arrangements) appropriate to said financing. The designation of this legislation as an emergency bill is needed to take advantage of the federal allocation to the Prince George’s County Public Schools of $25,102,000 of qualified school construction bond volume cap in calendar year 2009, which will achieve savings in the cost of debt service.

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